Riyadh – Mubasher: Samba Financial Group on Wednesday said that its net profits levelled up 11.4% year-on-year during the fourth quarter of 2017.
The Saudi Arabia-based lender's net profits increased to SAR 1.21 billion in Q4-17 versus SAR 1.09 billion in the same period a year earlier, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, the Tadawul-listed bank profits tumbled 7.2%.
The kingdom's third-largest bank by assets attributed the rise in its fourth-quarter net profits to a 6% growth in operating income backed by a 16% jump in net special commission income, gains on non-trading investments and other operating income.
Samba’s profits inched up 0.4% to SAR 5.02 billion during the full-year 2017, compared to SAR 5 billion in the year before.
The stock shed 0.2%, closing Wednesday at SAR 25.48.
