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Samba posts 2.9% rise in Q3 profits

Saudi Arabia's second-biggest lender by market value, Samba Financial Group has posted a 2.9% increase in its third quarter net profit over the year-earlier period to SR1.14bn due to higher income from investments, Zawya Dow Jones has reported. Third quarter operating profit fell 0.9% to SR1.71bn, compared to the same quarter a year earlier, while net special commissions, or net lending income, dropped 4.9% to SR1.05bn. Samba has not said whether it booked a provision in the third quarter.