The Saudi British Bank results for the nine months to 30 September 2015
- Net profit of SAR3,392m (US$904.5m) for the nine months ended 30 September 2015 – an increase of SAR95m (US$25.3m), or 2.9%, compared to SAR3,297m (US$879.2m) for the same period last year.
- Operating income of SAR5,081m (US$1,355m) for the nine months ended 30 September 2015– an increase of SAR142m (US$37.9m), or 2.9%, compared to SAR4,939m (US$1,317.1m) for the same period last year.
- Loans and advances to customers of SAR128.9bn (US$34.4bn) at 30 September 2015 – an increase of SAR12.2bn (US$3.3bn), or 10.5%, compared to SAR116.7bn (US$31.1bn) at 30 September 2014.
- Customer deposits of SAR155.6bn (US$41.5bn) at 30 September 2015 – an increase of SAR11.9bn (US$3.2bn), or 8.3%, compared to SAR143.7bn (US$38.3bn) at 30 September 2014.
- The bank’s investment portfolio totalled SAR43.4bn (US$11.6bn) at 30 September 2015, an increase of SAR2.4bn (US$0.6bn), or 5.9%, compared to SAR41.0bn (US$10.9bn) at 30 September 2014.
- Total assets were SAR197.2bn (US$52.6bn) at 30 September 2015, an increase of SAR14.2bn (US$3.8bn), or 7.8%, compared to SAR183.0bn (US$48.8bn) at 30 September 2014.
- Earnings per share of SAR2.26 (US$0.6) for the nine months ended 30 September 2015 – an increase of 2.9% from SAR2.20 (US$0.6) for the same period in 2014.
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.”
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