Wednesday, 11 July 2012

Saudi banks report big returns for quarter - The National

Saudi Arabia's banks reported a strong quarter of growth as the kingdom's infrastructure and housing projects boosted their profits.

Al Rajhi Bank, the kingdom's biggest lender, generated a net profit of 2 billion riyals (Dh1.95bn) for the second quarter, an increase of 13.5 per cent on last year's second quarter.

Saudi British Bank topped estimates with a profit of 915 million riyals for the second quarter, up 7.3 per cent from the same period last year, while Samba Financial Group generated a profit of 1.1bn riyals, an increase of 5 per cent.

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