Al-Ahli Bank quarterly profits dip slightly

The Saudi National Bank's profits declined in the third quarter of the year to approximately 6.45 billion riyals, despite surpassing analysts' expectations of 6.21 billion riyals. This is the first decrease in its quarterly profits in nearly five years, falling by 0.3% year-on-year, due to higher operating expenses and credit loss provisions, despite a 1% increase in income from financing and investments. Credit loss provisions increased by 39.6% to reach 323 million riyals, impacting profitability despite income growth.

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