Riyadh – Mubasher: Samba Financial Group on Wednesday stated that its net profits decreased by 2.46% year-on-year in the third quarter of 2017.
Net profits fell to SAR 1.31 billion in Q3-17, from SAR 1.34 billion in Q3-16, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, profits rose 2.91%.
The Saudi financial group attributed the decrease in its year-on-year net profits to the growth in operating expenses by 2.7%, and a decline in operating income by 0.7%.
At the level of the first nine months of 2017, Samba’s net profits levelled down 2.71%, reaching SAR 3.81 billion, compared to SAR 3.9 billion in the same period in the year earlier.
The stock inched up 0.86%, closing at SAR 22.37 on Wednesday.
