Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

SABB first-half net profit rises 14.6 to SR2.238bn  Join our daily free Newsletter

MENAFN - Arab News - 11/07/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The Saudi British Bank (SABB) has recorded a net profit of SR2.238 billion for the six months ended June 30 2014.

This is an increase of SR285 million or 14.6 percent compared to SR1.953 billion for the same period in 2013.

SABB recorded a net profit of SR1.157 billion for the three months ended June 30 2014 an increase of SR76 million or 7.1 percent as compared to the three months ended March 31 2014 which amounted to SR1.081 billion according to a press release.

It said SABB's operating income was SR3.285 billion for the six months ended June 30 2014 an increase of SR347 million or 11.8 percent compared with SR2.938 billion for the same period in 2013.

Customer deposits of SR138.3 billion at June 30 2014 showed an increase of SR12.4 billion or 9.9 percent compared with SR125.9 billion at June 30 2013.

Loans and advances to customers of SR112.7 billion at June 30 2014 recorded an increase of SR6.7 billion or 6.3 percent from SR106.0 billion at June 30 2013.

The bank's investment portfolio totaled SR41.5 billion at June 30 014 an increase of SR10.7 billion or 34.5 percent from SR30.8 billion at June 30 2013.

Total assets were SR175.5 billion at June 30 2014 compared with SR161.9 billion at June 30 2013 an increase of 8.4 percent or SR13.6 billion.

Earnings per share is SR2.24 against SR1.95 for the corresponding first half of the previous year.

Sheikh Khaled Olayan chairman of SABB said: 'SABB's strategy of diversifying its income streams and controlling its costs has enabled the bank to record a strong financial performance for the six months ended June 30 2014."

He said: '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."

He said: '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."


 


Arab News




  MENA News Headlines
 May 5 2015 - Spring weather conditions forecast over next three daysJordan News Agency
(MENAFN - Jordan News Agency) A rise in temperatures is expected on Tuesday and the weather will be moderate in most parts of the Kingdom and warm in the Jordan Valley and Aqaba.According to the ...

 May 5 2015 - U.S led-coalition conducts 22 airstrikes against Daesh in IraqJordan News Agency
(MENAFN - Jordan News Agency) Coalition military forces in a statement said it had launched 22 airstrikes against Daesh terrorist gang in Iraq during the past 24 hours.The strikes hit tactical units ...

 May 5 2015 - Israeli forces arrest 11 Palestinians in the West BankJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation soldiers on Tuesday arrested 11 Palestinians in the West Bank.Palestinian Interior Ministry said that the occupation forces stormed the towns of ...

 May 5 2015 - Red Cross issues 24 travel documents for Syrian refugeesJordan News Agency
(MENAFN - Jordan News Agency) A total of 24 travel documents were issued recently by the International Committee of the Red Cross (ICRC) to Syrian refugees in Jordan who were granted resettlement ...

 May 5 2015 - 7th Jordan AFAQ Economic Forum to be held in Amman next TuesdayJordan News Agency
(MENAFN - Jordan News Agency) The 7th Jordan AFAQ Economic Forum will be held in Amman next Tuesday with the participation of economic and financial experts as well as companies from 10 nations, ...

 May 5 2015 - TAG signs two agreements to promote Italian languageJordan News Agency
(MENAFN - Jordan News Agency) The Talal Abu Ghazaleh (TAG) organization and the Italian Embassy in Jordan signed a cooperation agreement Tuesday to promote the Italian culture and language.Under the ...

 May 5 2015 - IMF expects 3.8% GDP growth in Jordan in 2015Jordan News Agency
(MENAFN - Jordan News Agency) The Regional Economic Outlook Update, released Tuesday in Dubai, projected that Jordan's Gross Domestic Product (GDP) will grow by 3.8 per cent this year and 4.5 per ...

 May 5 2015 - Specialized training course on ethical hacking concludes at RSS in JordanJordan News Agency
(MENAFN - Jordan News Agency) A specialized training course entitled "Certified Ethical Hacking" concluded at the Royal Scientific Society (RSS) Tuesday.The training course, which was held by the ...

 May 5 2015 - UNFPA calls to enhance quality of midwives servicesJordan News Agency
(MENAFN - Jordan News Agency) The Executive Director of the United Nations Population Fund (UNFPA), Babatunde Osotimehin, called for greater investments to increase the number of midwives and enhance ...

 May 5 2015 - VOL 1 - Companies need to balance expectations of all stakeholders: Bharat WakluKNN India
(MENAFN - KNN India) Today's companies need to balance needs, expectations and aspirations of all stakeholders. They should also have a mechanism by which if there is a tie between the expectations ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help