SABB recorded a net profit of SR1.902 billion ($507 million) for the nine months ended September 30, down SR553 million ($147 million) or 22.5 percent, compared with SR2.455 billion ($655 million) for the same period in last year. Net profit of SR651 million ($174 million) for the three months ending September were however up SR5 million ($1 million), or 0.8 per cent, from the SR646 million ($172 million) reported during the third quarter of last year, the Jeddah-based Saudi Gazette reported. SABB's earnings per share for the nine-month period were recorded at SR5.07 ($1.35), down 22.5 percent from SR6.55 ($1.75) last year. Customer deposits reached SR70.3 billion ($18.7 billion), 17.8 percent or SR10.6 billion ($2.8 billion) higher compared with SR59.7 billion ($15.9 billion) in 2006. Total assets were pegged at SR89.6 billion ($23.9 billion), SR12.3 billion ($3.3 billion) or 15.9 percent higher during the nine-month spread last year.
