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Tadawul exchange weakens slightly

12 October 2010

The Saudi Arabian Tadawul exchange closed 0.38% lower at 6,343.86 points, as its bellwether Sabic ended weaker (off 0.55% at SR90.25) Shares of Alinma Bank declined 0.46% to close at SR10.80. Alinma Bank reported interim consolidated financial results: net income for the third quarter amounted to SR20m, compared to net income of SR39m for the same quarter of previous year with a decrease of 49%, and compared to a net income of SR3m for the previous quarter with a increase of 567%. ".The decrease in net income for the period compared to last year was mainly due to lower yield on investments and higher operating expenses related to new branches and ATMs", Alinma Bank said addressing shareholders.

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