SAIB 1Q2016 first glance: Weaker spreads, higher provisioning weigh on earnings
Net income – SAR210 million, -43% Y-o-Y, -8% Q-o-Q, -63% versus EFGe Revenues – SAR591 million, -9% Y-o-Y, -4% Q-o-Q, -4% versus EFGe Net interest spreads – 1.64%, -17bps Y-o-Y, -13bps Q-o-Q Credit costs – 65bps, +49bp
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