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Saudi- Samba Q1 earnings rise 3.1
(MENAFN- Arab News) JEDDAH: Samba Financial Group Saudi Arabia's third-largest bank by assets posted a 3.1 percent rise in its first-quarter net profit according to a bourse statement.
The bank said it made SR1.28 billion ($341.3 million) in the three months ending March 31 compared with SR1.24 billion in the same period a year earlier.
Seven analysts surveyed by Reuters on average forecast the bank to post a net profit of SR1.23 billion or the quarter.
The bank attributed its increase in net profit to higher total operating income which gained 5.3 percent year on year.
The bank said it made SR1.28 billion ($341.3 million) in the three months ending March 31 compared with SR1.24 billion in the same period a year earlier.
Seven analysts surveyed by Reuters on average forecast the bank to post a net profit of SR1.23 billion or the quarter.
The bank attributed its increase in net profit to higher total operating income which gained 5.3 percent year on year.
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