Saudi's Samba posts 7.8% fall in Q4 profit

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Samba Financial Group, Saudi Arabia's second-largest listed bank, posted a 7.8 percent fall in fourth quarter net profit, missing analyst expectations as its income from special commissions declined.

The lender's net profit fell to SR869m ($231.7m) in the last three months of 2012, from SR943m in the last quarter of 2011, it said in a bourse statement Wednesday.

Nine analysts surveyed by Reuters had forecast Samba would have net profit of SR1.1bn for the fourth quarter.

The bank attributed the decline in profits to lower income from special commissions, which fell 5.4 percent to SR1bn, from SR1.1bn for the same quarter in 2011.

Total operating income for the fourth quarter fell 3.6 percent to SR1.45bn from SR1.5bn in the same period a year earlier.

Samba's loans and advances portfolio climbed 18 percent to SR105bn from SR89bn in the same period a year earlier.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Q&A with Noor Bank

Q&A with Noor Bank

Kazim Ali, head of corporate banking at Noor Bank, discusses...

Saudi bank's $6bn IPO ignites religious controversy

Saudi bank's $6bn IPO ignites religious controversy

Plans by National Commercial Bank have prompted some clerics...

Dubai flexes legal muscles as financial court system grows

Dubai flexes legal muscles as financial court system grows

Landmark ruling by the court system in Dubai's financial free...

Most Discussed
  • 16
    ‘How my Dubai mortgage landed me in a police cell’

    loans in any form need to filtered with the terms and condition, assuming thing will be in order is not excuse, one need to check with banks when property... more

    Friday, 31 October 2014 5:49 PM - Jacob
  • 10
    Do you actually own your house?

    This is unbelievable from Nakheel. In a case where we want landscape our garden with some tiles and grass costing around 12500, Nakheel is demanding a... more

    Thursday, 30 October 2014 9:06 PM - skp
  • 1
    Men arrested for working in women's shops in Saudi

    “We won’t spare any mall or shop employing expatriate men to sell women’s accessories,” the ministry’s director general in Makkah, Abdul Monem Al Shahri... more

    Friday, 31 October 2014 12:22 PM - cba