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Islamic Finance Briefing - Categorized | Banking, Performance more

Saudi bank profits fall 15 pct in Jan-Feb-cbank

Posted on 01 April 2010

From Reuters: Saudi banks’ profit fell 14.8 percent in the January-February period, central bank data showed on Wednesday, ahead of first-quarter earnings announcements, adding to concerns over their profit outlook for 2010.

Separately, Cairo-based Beltone Financial said Saudi banks’ non-performing loans would peak in 2010 leading to a decline in profitability compared with 2009, a bad year for many Saudi lenders due to a rise in provisions for these loans……………………………….Full Article: Source

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