Oct. 09--JEDDAH -- The Saudi British Bank (SABB) recorded a net profit of SR2.80 billion for the nine months ended Sept. 30.
This is an increase of SR373 million or 15.4 percent compared to SR2.43 billion for the same period in 2012. SABB recorded a net profit of SR846 million for the three months ended Sept. 30, 2013, an increase of SR190 million or 29 percent compared to the three months ended Sept. 30, 2012, which amounted to SR656 million.
Operating income of SR4.41 billion for the nine month ended Sept. 30, 2013 -- an increase of SR475 million, or 12.1 percent compared to SR3.94 billion for the same period in 2012.
Customer deposits of SR129.9 billion at Sept. 30, 2013, an increase of SR10.2 billion, or 8.5 percent, compared to SR119.7 billion at Sept. 30, 2012.
Loans and advances to customers of SR107.8 billion at Sept. 30, 2013 -- an increase of SR10 billion, or 10.3 percent, from SR97.8 billion at Sept. 30, 2012.
The bank's investment portfolio totaled SR31 billion at Sept. 30, 2013, an increase of 5.7 percent compared to SR29.3 billion at Sept. 30, 2012.
Total assets were SR166.3 billion at Sept. 30, 2013, compared to SR156.2 billion at Sept. 30, 2012, an increase of 6.4 percent or SR10.1 billion.
Earning per share is SR2.80 against SR2.42 for the corresponding period of the previous year.
Khaled Olayan, chairman of SABB, said: "SABB's strategy of diversifying its income streams and controlling its costs effectively ensured another strong financial performance for the nine months ended Sept. 30, 2013. SABB has continued to focus on booking quality business while preserving strong asset quality, capital and liquidity positions. 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."