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FINANCIAL NEWS
Saudi’s Samba net profit drops by 1.4 percent
19 Jul 2016
(MENAFN) Samba Financial Group posted a 1.4 percent decline in Q2 net profit to reach USD349.3mn in the three months to June 30.
Moreover, it was forecasted that the Group will make a quarterly net profit of USD0.34bn, while it attributed its drop to a 6.4 percent rise in all operating expenses.
However, this offset the benefits from a 15.2 percent increase in profits from special commissions, which grew to USD0.35bn.
On the other hand, operating income for the quarter advanced 1.1 percent on the corresponding period of last year reached USD0.52bn.
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