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ATM & BranchesSABB First Quarter Profit Increase to SAR 1,142 Million
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April 2016
The Saudi British Bank (“SABB”) recorded a net profit of SAR 1,142 million for the quarter ended 31 March 2016. This is an increase of SAR 27 million or 2.4% compared to SAR 1,115 million for the same period in 2015, and an increase of SAR 203 million or 21.6% compared to SAR 939 million for three months ended 31 December 2015.
Operating income of SAR 1,796 million for the quarter ended 31 March 2016 – an increase of SAR 79 million, or 4.6 %, compared with SAR 1,717 million for the same period in 2015.
Loans and advances to customers of SAR 130 billion at 31 March 2016 – an increase of SAR 9.6 billion, or 8.0 %, from SAR 120.4 billion at 31 March 2015.
Customer deposits of SAR 151.5 billion at 31 March 2016 – an increase of SAR 2.5 billion, or 1.7 %, compared with SAR 149.0 billion at 31 March 2015.
Customer deposits of SAR 151.5 billion at 31 March 2016 – an increase of SAR 2.5 billion, or 1.7 %, compared with SAR 149.0 billion at 31 March 2015.
Total assets increased by SAR 1.6 billion to SAR 191.8 billion at 31 March 2016 – an increase of 0.8 % from SAR 190.2 billion at 31 March 2015.
Earnings per share is SAR 0.76 against SAR 0.74 for the corresponding quarter 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 and liquidity position 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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© SAB, Saudi Arabia. All Rights Reserved, 2024
Saudi Awwal Bank, a listed joint stock company, incorporated in the Kingdom of Saudi Arabia, with paid in capital of SAR 20,547,945,220, commercial registration certificate 1010025779, unified number 7000018668, Mailing Address: P.O. Box 9084, Riyadh 11413. National Address: 7383 King Fahad Branch Rd, 2338 Al Yasmeen Dist., 13325 Riyadh, Kingdom of Saudi Arabia, Tel. +966 11 4050677, www.sab.com, licensed pursuant to the Council of Ministers Resolution No. 198 dated 06/02/1398H and Royal Decree No. M/4 dated 12/08/1398H, and regulated and supervised by the Saudi Central Bank.