Saudi British Bank (SABB) posted a 4.1 percent rise in its third quarter net profit on Wednesday, missing analysts forecasts, as increased operating expenses hurt earnings growth.
SABB, the kingdom's fourth largest listed bank by market value and an affiliate of HSBC, posted net earnings of
656 million riyals ($175 million) in the three months ending September 30, compared with 630 million riyals in the same period last year.
Nine analysts polled by Reuters had pencilled in profit of, on average, 815 million riyals.
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