Saudi British Bank Q4 net profit jumps 20 percent, beating forecast

RIYADH Sun Jan 12, 2014 8:58am EST

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RIYADH Jan 12 (Reuters) - Saudi British Bank (SABB), Saudi Arabia's fourth-largest listed bank, said its fourth-quarter net profit rose 20 percent over the same period of 2012, beating analyst expectations.

The lender, an affiliate of HSBC Holdings, said it made 976 million riyals ($260 million) in the three months to Dec. 31, compared to 815 million riyals in the corresponding period of 2012.

Eight analysts surveyed by Reuters had forecast it would earn a net profit of 924.5 million riyals in the quarter. (Reporting By Angus McDowall; editing by Sami Aboudi)

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