Samba Financial Group, Saudi Arabia's second-largest listed bank, posted a flat third-quarter net profit on Tuesday, coming in slightly below the average forecast of analysts.
The bank said in a bourse fili
A number of leading banks in Saudi Arabia including Al Rajhi Bank and Samba have registered a slight slight increase in their second-quarter net profit this year amid a challenging economy.
Al Rajhi Bank, Saudi Arabia's larges
Saudi's Riyadh Bank beat analysts' expectations after it posted a 30 per cent rise in its third quarter net profits, while Samba Financial Group posted a 2.9 per cent rise, in line with expectations, bourse statements said on Saturday.
Four major Saudi banks reported quarterly profits that met or beat analysts estimates on Monday, in a sign the kingdom's lenders have begun to rebound from a punishing bout of a bad loan provisioning.
Kingdom Holding Company (KHC), the investment firm of Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has announced the SR700 million ($186.6 million) re-financing of Kingdom Centre. KHC holds a 36 per cent stake in the company.
Saudi Arabia's index made its largest decline in seven weeks and further losses were forecast as the kingdom's bourse tracked stuttering world markets and oil.
Saudi Basic Industries Corp (Sabic) fell 1.7 percent, slipping to a three-week
Saudi Arabia's economy will grow by 4 per cent this year as oil production increases, while inflation in the biggest Arab economy will stabilise at an annual average of 5 per cent, Samba Financial Group said on Saturday.
Saudi Arabia is cu
Standard & Poor’s (S&P), a top financial research and ratings agency, has raised its ratings of two Saudi Arabia-based financial institutions based on their financial profile and stable outlook.
Al Rajhi Bank
Al Rajhi Bank'