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ATM & BranchesSABB reports profit of SAR 3,955 million for the year ended December 31, 2017
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February 2018
The Saudi British Bank “SABB” recorded a net profit of SAR 3,955 million for the year ended 31 December 2017. This is an increase of SAR 60 million or 1.5% compared to SAR 3,895 million for the year 2016. SABB recorded a net profit of SAR 706 million for the three months ended 31 December 2017, a decrease of SAR 377 million or 34.8% compared to the three months ended 30 September 2017 of SAR 1,083 million.
Operating income of SAR 7,127 million for the year ended 31 December 2017, an increase of SAR 218 million, or 3.2%, compared to SAR 6,909 million for the year 2016.
Loans and advances of SAR 117.0 billion at 31 December 2017, a decrease of SAR 4.0 billion, or 3.3%, from SAR 121.0 billion at 31 December 2016.
Customers’ deposits of SAR 140.2 billion at 31 December 2017, a decrease of SAR 0.4 billion, or 0.3%, compared with SAR 140.6 billion at 31 December 2016.
Investments of SAR 27.0 billion at 31 December 2017, a decrease of SAR 2.3 billion, or 7.8%, from SAR 29.3 billion at 31 December 2016.
Total assets of SAR 187.6 billion at 31 December 2017, an increase of SAR 1.5 billion, or 0.8% from SAR 186.1 billion at 31 December 2016.
Earnings per share is SAR 2.64 compared to SAR 2.60 for the year 2016.
Commenting on the results, Sheikh Khaled Olayan, Chairman of SABB, said "During 2017 SABB delivered resilient returns and increased the distribution to shareholders under challenging economic conditions. The SABB Board and its management team has been focused on supporting our customers and the nation’s economic transformation agenda. The Bank remains highly liquid with strong capital, stable funding and a uniquely valuable franchise as the leading international bank in the Kingdom."
Sheikh Khaled further added, “I would like to thank our customers, staff and shareholders for their 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.