| 15.01.2010 - Profit of HSBC Saudi arm sunk by provisions |
| From Maktoob.com: New provisions all but wiped out earnings at SABB bank on Wednesday, dragging net profit to its lowest quarterly level in more than a decade. In a reminder of the pain inflicted on Saudi lenders by the global financial crisis, HSBC's Saudi affiliate reported a 96-percent fall in fourth quarter profit........................................Full Article: Source |