Saudi Hollandi maintains 20% profit growth for 5 straight years, says bank official

Saudi Hollandi Bank (SHB), which is 40 percent owned by ABN Amro, has maintained profit growth of 20 percent for five consecutive years, the bank’s director general of treasury, Mohammed Al-Sheikh told Al-Arabiya TV.

He attributed the high growth rate partly to Q1-2015, in which SHB outperformed its competitors. The banking sector also witnessed an exceptional growth during the quarter.

Liquidity remained high at SHB in recent years, according to Al-Sheikh, while its balance sheet was also stronger than other sector players.

SHB’s loan portfolio grew by ten percent in the first half, slightly outperforming the sector’s growth rate of 9.5 percent, he added.

SHB earlier reported a net profit of SAR 1.08 billion for the first half of 2015, marking a year-on-year increase of 20 percent, according to reports published by Argaam.