Saudi Hollandi Bank profits for Q1 rise 27 percent

Published April 29th, 2001 - 02:00 GMT

Saudi Hollandi Bank announced on Saturday, April 28, net profits of $29.7 million for the first quarter of 2001, up 27 percent compared to $23.4 million figure in the same period of the previous year. 

 

The bank attributed the sharp rise in profits to the relatively stabile oil prices, which in turn has a positive effect on the Saudi Arabian economy.  

 

The bank reported that its total assets rose 11 percent, from $5.3 billion in March 2000, to $5.9 billion in March of this year. — (Albawaba-MEBG) 

© 2001 Mena Report (www.menareport.com)


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