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Wednesday, 25 November 2009 10:42 UAE time

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Arab National profit misses forecasts

by Reuters on Sunday, 07 October 2007

Arab National Bank, Saudi Arabia's fifth-largest lender by market value, said third-quarter profit rose 2.9% to 608 million riyals ($162.1 million), missing analysts forecasts.

Analysts forecasts for third-quarter profit ranged from 619 million riyals to 762 million riyals, according to a Reuters survey last month.

Earnings per share for the first nine months were 4.34 riyals, compared with 4.27 riyals at the end of September last year, Arab National said in a statement on the stock market website.

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Arab National's stock fell 0.61% on Saturday. The results were released after the market closed.

Jordan's Arab Bank holds a 40% stake in Arab National.

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