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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Hollandi cost-cutting drive paying off

Posted on 12 July 2010

From Gulf-daily-news.com: Saudi Hollandi Bank had the best second quarter among three local lenders that announced quarterly earnings yesterday after it cut costs by more than half to offset a decline in lending income.

The bank, part owned by a Royal Bank of Scotland-led consortium that may sell its stake through a public offering, has more than doubled its net profit in the three months to June end to 250.5 million Saudi riyals ($66.8m), beating analysts’ forecasts…………………………………..Full Article: Source

 
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