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Saudi banks’ Q3 profit may be under pressure- M.Stanley

Posted on 01 October 2009

From Arabfinance.com: Saudi Arabian banks’ third-quarter net income will be under pressure due to the higher amount of money banks set aside to cover bad loans and on subdued fee income, Morgan Stanley said.

Saudi bank’s third-quarter earnings may be flat to down sequentially, as higher provisions offset increased pre-provision income, analysts Daniel Cowan and Magdalena Stoklosa said, and forecast an average increase of 40 basis points in loan-loss provisions this quarter………………..Full Article: Source

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