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Saudi British Bank Q4 net profit falls 35 pct, misses forecasts

Reuters - UK Focus

DUBAI, Jan 19 (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 (Frankfurt: 923893 - news) , said it made 607 million riyals ($161.9 million) in the three months ending Dec (Shanghai: 600875.SS - news) . 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.

($1 = 3.7492 riyals) (Reporting by Tom Arnold; editing by Susan Thomas)