However, earnings fell 22.7 percent compared to the third quarter net profit, which the bank attributed to declining operating income, in the statement posted on the bourse website. 

Saudi Hollandi Bank, the oldest bank in the Kingdom, said earnings per share over the 12 months of 2011 were SR3.12, compared to 2.39 in 2010.  

The firm, which is partly owned by the Royal Bank of Scotland, is currently the eighth largest bank in the Kingdom by market capitalization.

Total operating profit for the period rose 4 percent to SR508 million from SR484 million in the fourth quarter of 2010, it said. 

Profits from special commissions rose by SR2 million to SR314 million, while loans and advances rose nearly 8 percent to SR37.7 billion, it said. 

Assets for the three-month period increased nearly 7 percent to SR57.5 billion. 

Last week, the regulator said Saudi Hollandi Bank had won approval for a capital increase through bonus shares to help support its growth.

The 20-percent increase will lift the bank’s capital to SR3.97 billion.