SABB swings to H1 net profit of $503m tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.
The Saudi British Bank (SABB) has recorded a net profit of SR1.889 billion ($503 million) for the first six months of 2021, marking an increase of SR7.785 billion or 132% compared to the loss of SR5.896 billion for the same period last year.
SABB records net profit of $504 million arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
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The Saudi British Bank (SABB) recorded a net profit after Zakat and income tax of SR970 million ($259 million) for the three months ending March 31. This is a decrease of SR1 million or 0.1 percent compared to SR971 million for the same period in 2020.
The operating income was SR2.01 billion for the three months ending March 31, a decrease of SR361 million or 15 percent, compared to SR2.37 billion for the same period in 2020.
The loans and advances stood at SR156.7 billion on March 31, an increase of SR1.5 billion or 1 percent from SR155.2 billion on March 31, 2020.
The customers’ deposits amounted to SR183.7 billion for the first quarter of 2021, a decrease of SR4.6 billion or 2.4 percent compared with SR188.3 billion for the same period last year.