Riyadh – Mubasher: Saudi Hollandi Bank (SHB) posted SAR 511.52 million ($136.4 million) net profit for the first quarter of 2016, a decline of 5% compared with SAR 538.94 million ($143.7 million) reported in the same period a year earlier.
In a statement posted on Tadawul website today, the bank ascribed the profit decline to a 1.74% fall in total operating income.
The bank’s total operating expenses rose by 2.20% due to higher general and administrative expenses.
