Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Profits of Saudi banks rise 6% to SR10.6bn in Q1  Join our daily free Newsletter

MENAFN - Arab News - 17/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Profits of all saudi banks grew by 6 percent to sr10.6 billion in the first quarter of 2014 compared to sr10 billion in the same period last year local media said.

profits of the listed banks increased by 5 percent to sr8.1 billion compared to sr7.6 billion in the mentioned periods according to an analytical study made by al-eqtisadiah daily.

quarter-to-quarter basis profits of all banks rose by 25 percent in q1 compared to figures of q4 of 2013 where profits stood at sr8.5 billion. however profits of the listed banks grew by 20 percent in q1 compared to q4 profits which reached sr6.7 billion the report said.

all the banks with the exception of al-rajhi bank posted y-o-y growth at rates ranging between 33 percent (alinma bank) and 5 percent (arab national bank). profits of al-rajhi dropped by 17 percent the report said.

on the other hand share of the national commercial bank (ncb) to the overall profit growth of the banking sector was the biggest during q1 at 33 percent (sr203 million). ncb's profits stood at sr2.5 billion in q1 compared to sr2.3 billion in the comparable period last year or an increase of 9 percent the report said.

banque saudi fransi (bsf) was the second biggest driver to the banks' profit growth at 28 percent (sr172 million) where it achieved sr856 million in q1 compared to sr684 million in the same period last year or an increase of 25 percent.

meanwhile share of saudi british bank (sabb) to the banks' profit growth stood at 21 percent (sr133 million) where it posted sr1.1 billion compared to sr948 million or an increase of 11 percent.

riyad bank was the fourth biggest driver of the banks' profit growth at 21 percent (sr128 million) where its profits grew to sr1.1 billion compared sr951 million or an increase of 13 percent in the same period last year the report said.

shares of other banks to the banks' overall profit growth during q1 varied as follows: samba financial group (sfg) at 13 percent or sr82 million (7 percent); alinma bank at 12 percent or sr72 million (33 percent); saudi hollandi bank (shb) at 11 percent or sr71 million ( 20 percent); anb at 6 percent or sr34 million (5 percent); bank albilad at 5 percent or sr31 million (22 percent); the saudi investment bank (sib) at 4 percent or sr23 million (7 percent); and bank aljazira at 2 percent or sr15 million (10 percent) the report said.


 


Arab News




  MENA News Headlines
 Jul 4 2015 - Chan hits winner as Rain or Shine levels series at 1 1Arab News
(MENAFN - Arab News) MANILA: You rarely hear Yeng Guiao talk this way. 'Only God can turn out a script write a story this way' Guiao said on Saturday night moments after his Rain or Shine crew ...

 Jul 4 2015 - Dixon shines as Highlanders storm to first Super Rugby titleArab News
(MENAFN - Arab News) WELLINGTON: Elliot Dixon scored one try and set up another for Waisake Naholo as the Otago Highlanders beat the Wellington Hurricanes 21-14 to claim a first Super Rugby title on ...

 Jul 4 2015 - Show of unity: Joint prayers held in Kuwait and BahrainArab News
(MENAFN - Arab News) KUWAIT CITY: Kuwait deployed unprecedented security measures around mosques for Friday prayers following last week's deadly bombing as the emir attended a rare Shiite-Sunni joint ...

 Jul 4 2015 - Daesh video shows mass execution in Syria's PalmyraArab News
(MENAFN - Arab News) BEIRUT Lebanon: The Daesh group on Saturday released a video showing several dozen Syrian government soldiers being executed by teenagers in the ancient amphitheater in the city ...

 Jul 4 2015 - 105 pilgrims rescuedArab News
(MENAFN - Arab News) RIYADH: The Civil Defense has rescued 105 pilgrims trapped in vehicles and buildings for various reasons since the start of Ramadan. During the first 10 days of the month it ...

 Jul 4 2015 - Sissi rallies troops after Daesh attacks in SinaiArab News
(MENAFN - Arab News) CAIRO: Egyptian President Abdel-Fattah el-Sissi traveled to the troubled northern part of the Sinai Peninsula to inspect troops on Saturday after Daesh-linked militants struck a ...

 Jul 4 2015 - Saudi equity market cap exceeds SR2 trillion in first halfArab News
(MENAFN - Arab News) JEDDAH: The Saudi stock market fell in the first half of this year. At the end of the first half 2015 Tadawul All-Share Index (TASI) closed at 9086.89 down 426.13 points or 4.48 ...

 Jul 4 2015 - Petrolimex and KPC end diesel term contractArab News
(MENAFN - Arab News) SINGAPORE: Vietnam's top fuel importer Petrolimex and Kuwait Petroleum Corp. (KPC) have ended their long-standing diesel term contract that dates back to the 1990s since imports ...

 Jul 4 2015 - Dubai airport passenger traffic up 23.2 percentArab News
(MENAFN - Arab News) DUBAI: Dubai International Airport recorded a 23.2 percent jump in passenger traffic in May reflecting runway maintenance a year earlier the operator of the world's busiest ...

 Jul 4 2015 - Bieber wows fans by climbing up a treeArab News
(MENAFN - Arab News) SYDNEY: Justin Bieber and Hailey Baldwin were spotted walking through Sydney's Olympic Park in Homebush recently. And it didn't take long for Bieber who was on his way to the ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help