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Islamic Finance Briefing - Categorized | Banking, Performance more

Riyad Bank Q2 profit up, no new provisions

Posted on 14 July 2009

From Tradearabia.com: Saudi-based Riyad Bank said second-quarter net profit rose 1.8 percent as its core banking activities grew but it made no mention of new provisions despite worries about exposure to two troubled conglomerates.

Riyad, Saudi Arabia’s third-largest lender by market value, made a net profit of 918 million riyals ($244.8 million) in the three months ending June 30, 2009, up from 906 million riyals in the year-earlier period………Full Article: Source

 
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