Samba to Distribute SR1.32bn in Dividends

RIYADH, 19 February 2004 — Samba’s board of directors have decided to distribute SR1.32 billion among its shareholders in dividends at the rate of SR16 per share from last year’s profits, Al-Eqtisadiah business daily, a sister publication of Arab News, reported yesterday. The bank’s net profit last year stood at SR1.437 billion, less than the previous year’s figure, the paper said. The bank, however, saw a rise in operation revenues, which stood at SR3.34 billion. Samba’s profits from operations amounted to SR2.058 billion before deducting allocations to offset bad debts. Samba’s capital is SR4 billion, comprising 80 million shares. It currently employs a staff of 2,236.