The Saudi British Bank (SABB) recorded a net profit of SR2,293 million for the six months ended June 30, 2016, an increase of SR41 million or 1.8% compared to SR2,252 million for the same period in 2015. SABB recorded a net profit of SR1,151 million for the three months ended June 30, 2016, an increase of SR9 million or 0.8% compared to the three months ended March 31, 2016 of SR1,142 million. Operating income of SR3,557 million for the six months ended 30 June 2016, an increase of SR165 million, or 4.9%, compared to SR3,392 million for the same period in 2015. Loans and advances of SR131.1 billion as of June 30, 2016, an increase of SR4.1 billion, or 3.2%, from SR127.0 billion in the same period last year. Customers' deposits of SR150.3 billion as of June 30, 2016 ,a decrease of SR0.8 billion, or 0.5%, compared with SR151.1 billion over the same period in 2015. Investments of SR28.1 billion as of June 30, 2016, a decrease of SR16.5 billion, or 37.0%, from SR44.6 billion a year ago. Total assets of SR191.9 billion as of June 30, 2016, a decrease of SR0.4 billion, or 0.2% from SR192.3 billion last year for the same period. Earnings per share is SR1.53 compared to SR1.50 for the same period in 2015. Sheikh Khaled Olayan, Chairman of SABB, said "the solid financial results reflect SABB's consistent focus on revenue quality and risk management in line with our strategic objectives. SABB will continue to focus on maintaining a strong capital and liquidity position." Sheikh Khaled 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."
