Samba, the Kingdom’s second-largest listed lender by market value, made SAR1.16 billion in the third quarter of the year.
The Saudi lender posted a profit of SAR 656 million for the three months ended 30 September 2012.
The Kingdom’s eighth-largest lender said that it made SAR317 million in the third quarter of the year.
Global firms and large regional names are losing their top talent to Qatari lenders who offer better pay and stability.
BNP Paribas arranged the deal, which will settle on October 16.
Both Saudi Arabian lenders have seen their operating income rise for the third quarter.
The UAE’s federal budget deficit reportedly rose to Dhs2.8 billion in January-June, above the government’s original forecast.
The central bank introduced caps for loans made to local governments and their entities in April this year.
NBAD is looking to reap 10 per cent of its operating income from Islamic banking by 2020, up from three per cent currently.
Kingdom Holding sold the plot in Riyadh for $66.6 million.
Qatar’s indicator for sector performance in the region reports a 15 per cent rise in net profit for first nine months of the year.
The proceeds will be used to refinance existing debts, said sources.
The IMF said its base scenario envisaged a fiscal deficit of 0.6 per cent of GDP by 2016.
UK-based Barclays quit the panel in July.
The move is expected to boost Kuwait’s banking sector.
The investment bank’s shares are down 93 per cent from a 2008 peak.
Order books for the deal reportedly hit over $6 billion ahead of launch.
Emirates NBD and Attijariwafa Bank are the front-runners to pick up the French bank’s Egyptian arm.
The Qatari lender, part-owned by Qatar Holding, revealed profits last year of 243.7 million riyals.
The Abu Dhabi bank is planning a $500 million bond as an existing one to mature in 2017 yields 2.7 per cent.
The date set for banks to reduce their exposure to the government has passed with no word from the Central Bank.
In partnership with Deutsche Bank, the new DIFC Forum will open up discussions on doing business in the MENA and Asia regions.
Zabeel Investments allegedly owes $107 million to the Abu Dhabi bank which has filed for legal procedures.
Some of the world’s biggest banks are cutting jobs in their Middle Eastern operations in cost cutting measures.
The draft budget, outlined in March, anticipates a spending increase of about 13 per cent.
Gulf Finance House will lead the purchase of the football club’s parent company, though no dates or terms are announced.
NBF will take the international bank’s seat on the UAE rate panel following Barclays’ Libor scandal.
A whistle-stop tour of Singapore, UAE and London as Deutsche Bank, HSBC and QInvest LLC are mandated for the Islamic bond.
The London-based investment fund has backed online fashion site Namshi just one year after it launched.
Gulf International Bank’s bond programme is 97.2 per cent owned by the Saudi government, giving a safer level of risk.