The Saudi British Bank 2014 results

  • Net profit of SAR4,266m (US$1,138m) for the year ended 31 December 2014 – an increase of SAR492m (US$132m), or 13.0%, compared to SAR3,774m (US$1,006m) for the same period last year.
  • Operating income of SAR6,502m (US$1,734m) for the year ended 31 December 2014 – an increase of SAR688m (US$184m), or 11.8%, compared to SAR5,814m (US$1,550m) for the same period last year.
  • Customer deposits of SAR145.9bn (US$38.9bn) at 31 December 2014 – an increase of SAR6.9bn (US$1.8bn), or 5.0%, compared to SAR139.0bn (US$37.1bn) at 31 December 2013.
  • Loans and advances to customers of SAR115.2bn (US$30.7bn) at 31 December 2014 – an increase of SAR9.1bn (US$2.4bn), or 8.6%, compared to SAR106.1bn (US$28.3bn) at 31 December 2013.
  • The bank’s investment portfolio totalled SAR45.3bn (US$12.1bn) at 31 December 2014, an increase of SAR7.9bn (US$2.1bn), or 21.1%, compared to SAR37.4bn (US$10.0bn) at 31 December 2013.
  • Total assets were SAR187.6bn (US$50.0bn) at 31 December 2014, compared to SAR177.3bn (US$47.3bn) at 31 December 2013, an increase of 5.8% or SAR10.3bn (US$2.7bn).
  • Earnings per share of SAR4.27 (US$1.14) for the year ended 31 December 2014 – an increase of 13.0% from SAR3.77 (US$1.01) for the same period in 2013.

Commentary

Sheikh Khaled Olayan, Chairman of SABB, said: “SABB’s strategy of diversifying its income streams and controlling its costs has enabled the bank to report another strong financial performance in 2014. SABB’s continued focus on risk management, asset quality and maintaining strong capital and liquidity positions continues to provide SABB with growth opportunities in line with our strategic objectives.

“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.”

Media enquiries to:

Ibrahim Abo-Mouti
+966(1) 276 4041
ibrahimabomouti@sabb.com

Investor Relations enquiries to:

InvestorRelations@sabb.com

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