Impairment charges on investments rose over 4 per cent, though the impairment allowances for credit losses dropped to SR249 million from SR303 million it took on, for the corresponding period last year.
Saudi British Bank shed over 2 per cent after the bottom-line figures slightly decreased to SR 1.14 billion for the first three months of the year.
The Emaar numbers were backed up by a near six-fold rise in Deyaar Development’s bottom-line numbers, setting off the demand for other developers ahead of their earning announcements.
The stock is already up around 27 per cent for the year on the back of strong full-year results and additional dividends coupled with foreign ownership limit hike.