Samba 1Q2016 first glance: Spread recovery offset by credit cost normalisation
Net income – SAR1,260 million, -1% Y-o-Y, +2% Q-o-Q, +7% versus EFGe Revenues – SAR1,923 million, -3% Y-o-Y, +4% Q-o-Q, +7% versus EFGe Net interest spreads – 2.16%, +5bps Y-o-Y, +1-bps Q-o-Q Credit costs – 30bps, +15bp
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