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Islamic Finance Briefing - Categorized | Banking, Performance more

Bad loans prove a drag on Saudi bank profits

Posted on 12 January 2010

From Cpifinancial.net: Bad loans and corporate defaults continued to hurt the biggest banks in Saudi Arabia as three of the country’s top finance houses revealed bleak earnings for the final quarter of 2009.
Samba, the country’s second largest bank, said its fourth-quarter net profit last year rose by just 1.1 per cent to SAR 835 million ($222.7 million) from the same period a year earlier on the back of growth in its core banking activities…………………………………..Full Article: Source

 
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