Jan 18 2012 |
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Saudi's Riyad Bank Hits Expectations With SAR778M 4Q Profit
Wednesday, Jan 18, 2012
(This story was originally published Tuesday)
RIYADH (Zawya Dow Jones)-- Riyad Bank (1010.SA), the third-largest lender in Saudi Arabia by market capitalization, Tuesday reported net profits of SAR778 million ($207 million) for the fourth quarter, up 1.8% on the year.
The bank attributed the slight rise, which was in line with analysts' expectations, to increased operating income.
Net special commissions for the year were SAR4.20 billion, up 1.3% from 2010, the bank said. Total operating income rose to SAR6.3 billion, compared with SAR5.98 billion for 2010.
The share price for Riyad Bank fell Tuesday by SAR0.43, to SAR23.20.
-Ellen Knickmeyer, Dow Jones Newswires; +966 1 279 5252; ellen.knickmeyer@dowjones.com
(END) Dow Jones Newswires
18-01-12 0321GMT
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