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Saudi British Bank dips despite profit increase

11 April 2011

The Saudi Arabian Tadawul market ended 0.08% higher on Monday and closed at 6,611.73 points. Shares of Saudi British Bank (SABB) weakened 0.67%, closing at SR44.60. Earlier in the day, SABB announced that its "net income during Q1 2011 amounted to SR751m against SR621m for the corresponding quarter of the previous year with the increase of 20.9%, and against the net income of SR397m during the previous quarter with the increase of 89.2%." Market bellwether Sabic lost a quarter percent, closing at SR107.25. Amana Cooperative Insurance Co. jumped 9.69%, finishing at SR28.30.

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