Riyadh – Mubasher: Samba Financial Group achieved a net profit of SAR 1.26 billion ($336 million) in the first quarter of 2016, registering a slight decline of 1.42% from profits achieved in the same period the year before.
Profits were down on a 2.5% drop in income from operations owing to lower gains from investments for non-commercial purposes added to a decline in the fees of banking services, Samba said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
It added that net income from private transactions and other operations increased 11% and 4.5%, respectively, during the quarter due to lower salary expenses.
