08 October 2015
The Saudi British Bank ( "SABB" ) reported a net profit of SAR 3,392 million for the nine months ended 30 September 2015, an increase of SAR 95 million or 2.9% compared to SAR 3,297 million for the same period in 2014.

SABB reported a net profit of SAR 1,140 million for the three months ended 30 September 2015, an increase of SAR 3 million or 0.3% as compared to the three months ended 30 June 2015,  of SAR 1,137 million.

Operating income of SAR 5,081 million for the nine months ended 30 September 2015 - an increase of SAR 142 million, or 2.9%, compared with SAR 4,939 million for the same period in 2014.

Customer deposits of SAR 155.6 billion at 30 September 2015 - an increase of SAR 11.9 billion, or 8.3% compared with SAR 143.7 billion at 30 September 2014.

Loans and advances to customers of SAR 128.9 billion at 30 September 2015 - an increase of SAR 12.2 billion, or 10.5% from SAR 116.7 billion at 30 September 2014.

SABB's investment portfolio totaled SAR 43.4 billion at 30 September 2015, an increase of SAR 2.4 billion, or 5.9% from SAR 41.0 billion at 30 September 2014.

Total assets were SAR 197.2 billion at 30 September 2015, compared with SAR 183.0 billion at 30 September 2014, an increase of 7.8% or SAR 14.2 billion.

Earnings per share is SAR 2.26 against SAR 2.20 (adjusted for bonus share issuance in the ratio of 1:2) for the corresponding nine months of the previous year.

Commenting on the results, Sheikh Khaled Olayan, Chairman of SABB, said "the solid financial results reflect SABB's consistent focus on revenue growth and risk management in line with our strategic objectives. SABB's customer satisfaction levels and industry awards reflect our leading international bank position. SABB's strong capital position, together with strong credit ratings, continue to support our growth strategies and our ability to enhance shareholder value as business opportunities arise"

Sheikh Khaled further added, "I would like to thank our customers, staff and shareholders for their continued support and commitment. I would also like to express my sincere thanks and appreciation to our regulators and government ministries for their continued guidance and vision."

-Ends-

© Press Release 2015