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Tuesday, 24 January 2012

Samba needs to dance to a different rhythm - The National

Investors in Samba Financial Group are finding little to dance about in the bank's latest earnings figures.

The bank reported profits of 944 million Saudi riyals for the final quarter of last year, an increase of 4.8 per cent on a year earlier.

The results were a disappointment to analysts polled by Bloomberg News, who had been hoping for quarterly profits of 1.04 billion riyals. The full-year profits also represented a 2.9 per cent dip from the bank's earnings in 2010.