Saudi Hollandi Q3 net profit rises 6.8pc
DUBAI, October 9, 2015
Saudi Hollandi Bank, Saudi Arabia's oldest lender, reported a 6.8 per cent rise in third-quarter net profit on Thursday that narrowly missed analyst forecasts.
The lender made a profit of SR493 million ($131.47 million) in the three months to September 30, up from SR461.8 million in the corresponding quarter of 2014, according to a bourse filing.
Four analysts polled by Reuters had forecast on average Hollandi would make a quarterly profit of SR511.8 million.
Total operating income for the quarter rose 8.8 per cent to SR880 million and profit from special commissions grew 19 per cent to SR605.7 million.
Hollandi's loans portfolio stood at SR73.19 billion at the end of September, 15.5 per cent higher than the same point of 2014, according to the statement.
Its deposit base increased 13.8 per cent year-on-year to SR82.7 billion.
Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later. - Reuters
