Saudi Hollandi Bank Q2 Net Profit Jumps 28.1% On Higher Income

The lender cited higher operating income – which increased 17 per cent year-on-year – for the increase in net profit.



Saudi Hollandi Bank posted a 28.1 per cent increase in second-quarter net profit on Sunday, boosted by higher operating income.

The Kingdom’s oldest bank and its seventh-largest listed lender by assets made a net profit of SAR480.3 million ($128.1 million) in the three months to June 30, compared with SAR374.8 million in the corresponding period of 2013, it said in a statement.

It cited higher operating income – which increased 17 per cent year-on-year to SAR811.2 million – for the increase in net profit without elaborating.

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.