Saudi British Bank, Saudi Hollandi Bank post rises in nine months profits
The Saudi British Bank (SABB) announced Tuesday a 14.1 percent increase in net profits in the first nine months of 2001 from the year-earlier period. The bank said it posted 639 million riyals ($170.4 million) on September 30 this year, compared with 560 million riyals ($149.3 million) a year earlier.
Total assets dropped 0.9 percent to 42.7 billion riyals ($11.4 billion) from 43.1 billion riyals ($11.5 billion). Meanwhile, the Saudi Hollandi Bank announced a 23.8 percent increase in net profits in the first nine months of this year. The bank said it posted $99 million on September 30, up from $80 million a year earlier. — (AFP, Riyadh)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)