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Saudi banks profit drops 12.6% in Oct-Nov
- Saudi Arabia: Tuesday, December 29 - 2009 at 09:29
According to data by the Saudi Arabian Monetary Agency, profits earned by Saudi commercial banks had dropped 12.6% in the October-November period, Reuters has reported. Excluding branches abroad, Saudi banks had made a profit of SR3.94bn during the period. Cumulative profit of Saudi lenders stood at SR8.25bn in the first quarter of 2009, SR7.92bn in the second quarter and SR7.05bn during the third quarter, the data showed.
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StaffTuesday, December 29 - 2009 at 09:29 UAE local time (GMT+4)
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