💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

Saudi British Bank fourth-quarter net profit falls 35 pct, misses forecasts

Published 19/01/2017, 17:58
© Reuters.  Saudi British Bank fourth-quarter net profit falls 35 pct, misses forecasts
HSBA
-
1060
-

DUBAI (Reuters) - Saudi British Bank (SE:1060) (SABB), the kingdom's sixth-largest bank by assets, posted a 35 percent drop in its fourth-quarter net profit on Thursday, missing analysts' forecasts.

The bank, an affiliate of HSBC Holdings (L:HSBA), said it made 607 million riyals (£132 million) in the three months ending Dec. 31, compared with 939 million riyals in the same period a year earlier, according to a bourse filing.

Three analysts surveyed by Reuters expected the bank to post an average net profit of 1.02 billion riyals for the quarter.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.