Bloomberg News

Saudi Hollandi Surges Most in Seven Months After Net Quadrupled

October 15, 2011

Oct. 15 (Bloomberg) -- Saudi Hollandi Bank gained the most in seven months after the Saudi lender said third-quarter profit almost quadrupled from a year ago.

The shares surged 5 percent, the largest gain since March 7, to 27.20 riyals at the 3:30 p.m. close in Riyadh.

Saudi Hollandi’s net income rose to 299.4 million riyals from 85.3 million riyals a year earlier, the bank said on Oct. 12. It beat the 239.6 million-riyal mean estimate of five analysts compiled by Bloomberg.

--Editors: Andrew J. Barden, James Kraus

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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