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Islamic Finance Briefing - Categorized | Banking, Performance more

Five major Saudi banks post strong Q3 profits

Posted on 13 October 2011

Five major Saudi banks posted third-quarter net profits, three of which beat analysts forecasts, citing lower operational costs as well as increased income from banking fees and investments, the lenders said on Wednesday.
Saudi Arabia’s biggest Islamic Bank, Al Rajhi Bank posted an 18-percent rise in its third-quarter net profit to 1.9 billion riyals ($506 million) from 1.6 billion, attributing the rise in profit to higher revenue from banking fees and investment income……………………………………….Full Article: Source

 
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