Bloomberg News

Al Rajhi Bank Lowers Loan-Loss Provisions 1% in Fourth Quarter

February 12, 2012

Feb. 12 (Bloomberg) -- Al Rajhi Bank, Saudi Arabia’s largest publicly traded lender by market value, reduced provisions for bad loans by 1 percent in the fourth quarter.

Provisions declined to 540.6 million riyals ($144 million) in the three months that ended Dec. 31, from 546.5 million riyals a year earlier, according to data posted on the Saudi bourse website yesterday.

--Editors: Alex Devine, Dan Liefgreen

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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