10 April 2013
The Saudi British Bank (SABB) said it recorded a net profit of SR 948 million for the quarter ended March 31 2013.
This is an increase of SR 94 million or 11.0 percent compared to SR 854 million for the same period in 2012, and an increase of SR 133 million or 16.2 percent as compared to the three months ended December 31 2012, which amounted to SR 815 million.
Operating income of SR 1,438 million for the quarter ended March 31 2013 - an increase of SR 203 million, or 16.4 percent, compared with SR 1,235 million for the same period in 2012.
Customer deposits of SR 122.1 billion at March 31 2013 - an increase of SR 10.5 billion, or 9.4 percent, compared with SR 111.6 billion at March 31, 2012.
Loans and advances to customers of SR 101.2 billion at March 31 2013 - an increase of SR 10.0 billion, or 11.0 percent, from SR 91.2 billion at March 31 2012.
The bank's investment portfolio totaled SR 32.4 billion at March 31, 2013, an increase of 37.4 percent compared with SR 23.6 billion at March 31 2012.
Total assets were SR 158.8 billion at March 31 2013, compared with SR 144.0 billion at March 31 2012, an increase of 10.2 percent or SR 14.7 billion.
Earning per share is SR 0.95 against SR 0.85 for the corresponding quarter of the previous year.
Sheikh Khaled Olayan, chairman of SABB, said: "SABB's strategy of diversifying its income streams, effective cost control and ongoing emphasis on booking quality business at acceptable margins while maintaining strong capital and liquidity ratios has enabled the bank to record a good financial performance for the quarter ended March 31, 2013."
He added: "We would again like to thank our customers for their continued support and our staff for their commitment and contribution to the bank's success."
The Saudi British Bank (SABB) said it recorded a net profit of SR 948 million for the quarter ended March 31 2013.
This is an increase of SR 94 million or 11.0 percent compared to SR 854 million for the same period in 2012, and an increase of SR 133 million or 16.2 percent as compared to the three months ended December 31 2012, which amounted to SR 815 million.
Operating income of SR 1,438 million for the quarter ended March 31 2013 - an increase of SR 203 million, or 16.4 percent, compared with SR 1,235 million for the same period in 2012.
Customer deposits of SR 122.1 billion at March 31 2013 - an increase of SR 10.5 billion, or 9.4 percent, compared with SR 111.6 billion at March 31, 2012.
Loans and advances to customers of SR 101.2 billion at March 31 2013 - an increase of SR 10.0 billion, or 11.0 percent, from SR 91.2 billion at March 31 2012.
The bank's investment portfolio totaled SR 32.4 billion at March 31, 2013, an increase of 37.4 percent compared with SR 23.6 billion at March 31 2012.
Total assets were SR 158.8 billion at March 31 2013, compared with SR 144.0 billion at March 31 2012, an increase of 10.2 percent or SR 14.7 billion.
Earning per share is SR 0.95 against SR 0.85 for the corresponding quarter of the previous year.
Sheikh Khaled Olayan, chairman of SABB, said: "SABB's strategy of diversifying its income streams, effective cost control and ongoing emphasis on booking quality business at acceptable margins while maintaining strong capital and liquidity ratios has enabled the bank to record a good financial performance for the quarter ended March 31, 2013."
He added: "We would again like to thank our customers for their continued support and our staff for their commitment and contribution to the bank's success."
© Arab News 2013
