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Islamic Finance Briefing - Categorized | Banking, Performance more

Saudi banks post impressive profit growth

Posted on 11 April 2012

Leading Saudi banks, including HSBC affiliate SABB and the kingdom’s biggest Islamic lender Al Rajhi Bank, today reported impressive profits for the first quarter of this year.
SABB posted a 13.7 percent rise in first-quarter net profit, beating analyst forecasts. The bank cited lower operating expenses as the reason for its performance in a statement posted on the website of the Saudi bourse………………………………………..Full Article: Source

 
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