Monday 29 December 2014
 
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Samba Financial Group

Saudi Samba posts $305m Q1 net profit

Saudi's Samba Financial Group has posted first-quarter net profit of SR1.145 billion ($305.32 million), it said on Saturday, nearly matching analysts forecasts. The kingdom's second largest listed lender by market value said t

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Saudi stocks close high on banks, petchems

The Saudi index ended 0.24 per cent higher boosted by gains in the banking and petrochemical stocks. The all-share benchmark closed at 6,628.30 as the banking index edged up 0.74 per cent. Samba Financial Group and shares of heavyweight Sa

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Gulf Drilling closes $430m credit facility

Gulf Drilling International (GDI), a leading drilling service provider, has closed a new QR 1.57 billion ($430 million) credit facility with a syndicate of three banks. The mandated lead arrangers of the credit facility are Qatar National

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Samba bank's Q3 net down 8.8pc

Samba Financial Group, Saudi Arabia's second-largest lender by market value, posted a 8.8 per cent drop in third-quarter net profit after a decline in lending income. The bank made SR1.1 billion ($294.1 million) in the three months to

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Top Saudi bank books more bad loan provisions

Saudi Arabia's second-biggest lender Samba Financial Group added more provisions for loan loss during the second quarter, although these fell 41 per cent year-on-year, bourse data showed on Saturday. The much-smaller Saudi Investment B

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Samba Financial appoints key officials

Samba Financial Group, Saudi Arabia's second-largest lender by market value, has named a new chairman and a new managing director to replace him. Managing director Eisa al-Eisa was promoted as Samba's new chairman while Sajjad Razv

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Shareholder sells Samba stake

A shareholder in troubled Ahmad Hamad Algosaibi and Brothers Company (Ahab) has sold a 2.2 per cent stake in Samba Financial Group, reports said. Samba, the kingdom's second largest lender by market value, said on Sunday that Saud Algo

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Samba Q4 net profit falls 13.5pc

Samba Financial Group, Saudi Arabia's second largest lender by market value, said its net profit fell 13.5 per cent in the fourth quarter, in line with analysts' forecasts. Samba made SR826 million ($220.3 million) in the three months to D

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New Samba Dubai head office opened

Samba Financial Group has formally inaugurated the new Samba head office in Dubai, making it the first Saudi bank to establish a full presence in the UAE. 'We are entering the UAE banking sector with great confidence. This is amply ref

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SABB latest victim of stock slump

SABB reported a drop in second-quarter profit, the third of Saudi Arabia's four largest banks to report a decline in profit blamed on a slump in brokerage business on the biggest Arab bourse. SABB, 40 per cent owned by HSBC Holdings, said

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