Monday 12 January 2015

Saudi banks’ profits shake off fall in oil | The National

Saudi banks’ profits shake off fall in oil | The National:



"Some of Saudi Arabia’s biggest banks kicked off earnings season in the kingdom yesterday with bumper fourth quarter profits.



Saudi Hollandi, Bank Al Bilad and Riyad Bank yesterday reported strong growth in earnings for the three months ended December.



Saudi Hollandi said its fourth quarter net income increased 33 per cent to 461.9 million riyals (Dh452.4m), while Bank Al Bilad’s quarterly income rose 16.5 per cent to 249m ryals."



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