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Saudi bank Samba posts 2.2 pct drop in Q3 net profit
October 18, 2016 / 6:30 AM / a year ago

Saudi bank Samba posts 2.2 pct drop in Q3 net profit

DUBAI, Oct 18 (Reuters) - Samba Financial Group, Saudi Arabia’s third-largest bank by assets, reported a 2.2 percent drop in third-quarter net profit on Tuesday, in line with analyst forecasts.

The bank made a profit of 1.34 billion riyals ($357.4 million) in the three months to Sept. 30, down from 1.37 billion riyals in the same period a year earlier, it said in a bourse statement.

Five analysts polled by Reuters had on average forecast the bank would make a quarterly net profit of 1.32 billion riyals.

$1 = 3.7495 riyals Reporting by David French; Editing by Mark Potter

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