Bloomberg News

Saudi British Bank Reduces Fourth-Quarter Bad-Loan Provisions

February 13, 2012

Feb. 13 (Bloomberg) -- Saudi British Bank, the lender 40 percent owned by HSBC Holdings Plc, lowered provisions for bad loans in the fourth quarter by almost two-thirds.

Provisions declined to 81.7 million riyals ($21.8 million) in the three months ended Dec. 31, from 238.1 million riyals a year earlier, according to data posted on the Saudi bourse website today.

--Editor: Tim Farrand

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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