Saudi British Bank fourth-quarter net profit falls 35 percent, misses forecasts
DUBAI (Reuters) - Saudi British Bank (SABB), the kingdom's sixth-largest bank by assets, posted a 35 percent drop in its fourth-quarter net profit on Thursday, missing analysts' forecasts.
The bank, an affiliate of HSBC Holdings (HSBA.L), said it made 607 million riyals (£132 million) in the three months ending Dec. 31, compared with 939 million riyals in the same period a year earlier, according to a bourse filing.
Three analysts surveyed by Reuters expected the bank to post an average net profit of 1.02 billion riyals for the quarter.
(Reporting by Tom Arnold; editing by Susan Thomas)
