HSBC's Saudi affiliate SABB bank, the fifth-largest Saudi bank by market value, posted a worse-than-expected 34 per cent fall in second-quarter net profit.

SABB made SR447 million ($119.2 million) after SR676 million in the three months to end-June, 2009, the bank said in a statement to the stock market on Monday.

Analysts surveyed by Reuters had expected on average net profit of SR613.85 million.-Reuters