Financial and Banking News

Regional Banking

Securities Drag Riyad Bank's Interim Profits Down By 15%

Riyad Bank, Saudi Arabia's second biggest commercial bank, has reported a 15%fall in profits for the first nine months of the year. The decline is due almostentirely to reduced income from investments: income fell from SR658mn toSR532mn, a fall of 19%. The fall in profits is the biggest yet reported by aSaudi bank for the nine months, and reflects Riyad Bank's...