Saudi British Bank Fourth-Quarter Net Jumps 65%; Meets Estimates

Saudi British Bank (SABB), the lender 40 percent owned by HSBC Holdings Plc (HSBA), reported a 65 percent jump in fourth-quarter profit, matching analysts’ estimates.

Net income rose to 655 million riyals from 397 million riyals a year earlier, the Riyadh-based lender said in a statement to the Saudi bourse today. The mean estimate of seven analysts was for a profit of 654.4 million riyals, according to data compiled by Bloomberg.

To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net

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