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Islamic Finance Briefing - Categorized | Banking, Performance more

Saudi bank profits rise despite soaring provisions for bad loans

Posted on 26 October 2009

From Gulfnews.com: SABB bank, HSBC’s Saudi affiliate, booked 351.5 million riyals (Dh343.92 million) in provisions for loan losses during the third quarter, bourse data showed on Saturday.

SABB reported a worse-than-expected 19.8 per cent drop in third quarter net profit, hit by an increase in provisions for bad loans……………………..Full Article: Source

 
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