403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Saudi- SABB s profit up 1.5 to SR4.33bn
(MENAFN- Arab News) RIYADH: The Saudi British Bank (SABB) reported a net profit of SR4.33 billion for the year ended Dec. 31 2015 an increase of SR65 million or 1.5 percent compared to SR4.27 billion in the previous year.
SABB reported a net profit of SR939 million for the three months ended Dec. 31 2015 a decrease of SR30 million or 3.1 percent compared to the three months ended Dec. 31 2014 of SR969 million.
Operating income of SR6.63 billion for the year ended Dec. 31 2015 increased SR129 million or 2.0 percent compared with SR6.50 billion in the previous year.
Customer deposits of SR148.6 billion at Dec. 31 2015 increased SR2.7 billion or 1.9 percent compared with SR145.9 billion at Dec. 31 2014.
Loans and advances to customers of SR125.4 billion at Dec. 31 2015 increased SR10.2 billion or 8.9 percent from SR115.2 billion at Dec. 31 2014.
Total investment portfolio of SR35.4 billion at Dec. 31 2015 decreased SR9.9 billion or 21.8 percent from SR45.3 billion at Dec. 31 2014.
Total assets of SR187.8 billion at Dec. 31 2015 increased SR0.2 billion or 0.1 percent from SR187.6 billion at Dec. 31 2014.
Earnings per share is SR2.89 for the year ended Dec. 31 2015 compared to SR2.84 (adjusted for bonus share issuance in the ratio of 1:2) last year.
Commenting on the results 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 together with strong credit ratings continue to support our growth strategies and our ability to enhance shareholder value as business opportunities arise.'
Olayan 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.'
SABB reported a net profit of SR939 million for the three months ended Dec. 31 2015 a decrease of SR30 million or 3.1 percent compared to the three months ended Dec. 31 2014 of SR969 million.
Operating income of SR6.63 billion for the year ended Dec. 31 2015 increased SR129 million or 2.0 percent compared with SR6.50 billion in the previous year.
Customer deposits of SR148.6 billion at Dec. 31 2015 increased SR2.7 billion or 1.9 percent compared with SR145.9 billion at Dec. 31 2014.
Loans and advances to customers of SR125.4 billion at Dec. 31 2015 increased SR10.2 billion or 8.9 percent from SR115.2 billion at Dec. 31 2014.
Total investment portfolio of SR35.4 billion at Dec. 31 2015 decreased SR9.9 billion or 21.8 percent from SR45.3 billion at Dec. 31 2014.
Total assets of SR187.8 billion at Dec. 31 2015 increased SR0.2 billion or 0.1 percent from SR187.6 billion at Dec. 31 2014.
Earnings per share is SR2.89 for the year ended Dec. 31 2015 compared to SR2.84 (adjusted for bonus share issuance in the ratio of 1:2) last year.
Commenting on the results 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 together with strong credit ratings continue to support our growth strategies and our ability to enhance shareholder value as business opportunities arise.'
Olayan 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.'
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment