RIYADH: The Saudi British Bank (SABB) recorded a net profit of SR2.252 billion for the six months ended June 30 2015.

This is an increase of SR14 million or 0.6 percent compared to SR2.238 billion for the same period in 2014.

SABB recorded a net profit of SR1.137 billion for the three months ended June 30 2015, an increase of SR22 million or 2 percent as compared to the three months ended March 31 2015, which amounted to SR1.115 billion.

Operating income of SR3.39 billion for the six months ended 30 June 2015 – an increase of SR107 million, or 3.3 percent, compared with SR3.285 billion for the same period in 2014.

Customer deposits of SR151.0 billion at 30 June 2015 — an increase of SR 12.7 billion, or 9.2 percent compared with SR138.3 billion at June 30 2014.

Loans and advances to customers of SR126.6 billion at June 30 2015 — an increase of SR13.9 billion, or 12.3 percent from SR112.7 billion at June 30 2014.

SABB’s investment portfolio totaled SR44.5 billion at June 30 2015, an increase of SR3.0 billion, or 7.2 percent from SR 41.5 billion at June 30 2014.

Total assets were SR192.3 billion at June 30 2015, compared with SR175.5 billion at June 30 2014, an increase of 9.6 percent or SR16.8 billion.

Earnings per share is SR1.50 against SR1.49 (adjusted for bonus share issuance in the ratio of 1:2) for the corresponding first half of the previous year.

Commenting on the results, Khaled Olayan, chairman of SABB, said: “SABB has continued its focus on revenue growth and income diversification opportunities. With a strong capital base and liquidity position, we are well positioned to pursue new opportunities and enhance shareholder value in line with our strategic objectives.”

The chairman said: “Within a changing regulatory landscape, strong governance and risk management remains a key focus for SABB, ensuring that business growth is in line with our risk strategies.”

He added: “I would like to thank our customers, staff members and shareholders for their continued commitment and contribution to the Bank’s success.”