The Saudi British Bank results for the six months to 30 June 2015

  • Net profit of SAR2,252 m (US$601m) for the six months ended 30 June 2015 – an increase of SAR14m (US$4m), or 0.6%, compared to SAR2,238m (US$597m) for the same period last year.
  • Operating income of SAR3,392m (US$905m) for the six months ended 30 June 2015 – an increase of SAR107m (US$29m), or 3.3%, compared to SAR3,285m (US$876m) for the same period last year.
  • Loans and advances to customers of SAR126.6bn (US$33.8bn) at 30 June 2015 – an increase of SAR13.9bn (US$3.7bn), or 12.3%, compared to SAR112.7bn (US$30.1bn) at 30 June 2014.
  • Customer deposits of SAR151.0bn (US$40.3bn) at 30 June 2015 – an increase of SAR12.7bn (US$3.4bn), or 9.2%, compared to SAR138.3bn (US$36.9bn) at 30 June 2014.
  • The bank’s investment portfolio totalled SAR44.5bn (US$11.9bn) at 30 June 2015, an increase of SAR3.0bn (US$0.8bn), or 7.2%, compared to SAR41.5bn (US$11.1bn) at 30 June 2014.
  • Total assets were SAR192.3bn (US$51.3bn) at 30 June 2015, an increase of SAR16.8bn (US$4.5bn), or 9.6%, compared to SAR175.5bn (US$46.8bn) at 30 June 2014.
  • Earnings per share of SAR1.5 (US$0.4) for the six months ended 30 June 2015 – an increase of 0.7% from SAR1.49 (US$0.4) for the same period in 2014.

Commentary

Commenting on the results, Sheikh Khaled Olayan, Chairman of SABB, said: “SABB has continued its focus on revenue growth and income diversification opportunities. With a strong capital base and liquidity position, we are well positioned to pursue new opportunities and enhance shareholder value in line with our strategic objectives.

“Within a changing regulatory landscape, strong governance and risk management remains a key focus for SABB, ensuring that business growth is in line with our risk strategies.”

Sheikh Khaled further added: “I would like to thank our customers, staff members and shareholders for their continued commitment and contribution to the Bank’s success.”

Media enquiries to:

Ibrahim Abo-Mouti
+966 (11) 276 4041
ibrahimabomouti@sabb.com

Investor Relations enquiries to:

InvestorRelations@sabb.com

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