Jan 18 2012 |
more articles from
|
Al Rajhi Bank 4th-qtr Net Profit Up 14%; In Line With Views
Wednesday, Jan 18, 2012
(This story was originally published Tuesday)
RIYADH (Zawya Dow Jones)--Saudi Arabia's Al Rajhi Bank (1120.SA), the Arab Gulf region's biggest lender by market value, reported Tuesday that its fourth-quarter net profit advanced 14% on year to 1.90 billion Saudi riyals ($506 million), largely in line with expectations.
Analysts at Egypt-based EFG Hermes had forecast a net profit for the quarter of SAR1,80 billion, and NCBC, SAR1.96 billion. Strong fee income, which grew 44% on year, led the top-line growth, NCBC said.
Rajhi reported total operating income of SAR12.5 billion for the year, an increase of 7.2% from the previous year. Total assets rose 19.5% to SAR221 billion, including customer deposits of SAR173 billion, up from SAR143 billion in 2010, the bank said.
Al Rajhi shares closed down 1.38% on Tuesday, at 71.50.
-Ellen Knickmeyer, Dow Jones Newswires; +966 1 279 5252; ellen.knickmeyer@dowjones.com
(END) Dow Jones Newswires
18-01-12 0320GMT
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment