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FINANCIAL NEWS
Saudi Samba Group Q1 profit falls 1.4 percent
19 Apr 2016
(MENAFN) Samba Financial Group, recorded a 1.4 percent decline in first quarter net profit, as predicted.
Moreover, the group made a profit of USD 336.1mn in the cited quarter, drop from USD 0.34bn in the same period of 2015.
Additionally, the decline was related to lower income from investments, plus reduced trading income and fees from banking services.
However, operating income dropped 2.5 percent yearly to USD 0.51bn, although profits from special commissions grew 11 percent.
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