The Saudi British Bank (SABB) recorded a net profit of SR3.77 billion for the year ended Dec. 31, 2013. This is an increase of SR534 million or 16.5 percent compared to SR3.24 billion for the same period in 2012.

SABB recorded a net profit of SR976 million for the three months ended Dec. 31, 2013, an increase of SR161 million or 19.6 percent compared to the three months ended Dec. 31, 2012, which amounted to SR815 million.

Operating income of SR5.82 billion for the year ended Dec. 31, 2013 — an increase of SR649 million or 12.6 percent compared with SR5.17 billion for the same period in 2012.

Customer deposits of SR139.0 billion at Dec. 31, 2013 — an increase of SR18.6 billion or 15.4 percent compared with SR120.4 billion at Dec. 31, 2012.

Loans and advances to customers of SR106.1 billion at Dec. 31, 2013 — an increase of SR10.0 billion or 10.4 percent from SR96.1 billion at Dec. 31, 2012.

The bank’s investment portfolio totaled SR37.4 billion at Dec. 31, 2013, an increase of SR9.8 billion or 35.6 percent from SR27.6 billion at Dec. 31, 2012.

Total assets were SR177.3 billion at Dec. 31, 2013, compared with SR156.7 billion at Dec. 31, 2012, an increase of 13.2 percent or SR20.6 billion.

Earning per share is SR3.77 for the year ended Dec. 31, 2013 against SR3.24 at Dec. 31, 2012.

Khaled Olayan, chairman of SABB, said: “SABB’s strategy of diversifying its income streams and controlling its costs ensured another strong financial performance in 2013. SABB’s continued focus on risk management, asset quality and maintaining strong capital and liquidity positions provides SABB with growth opportunities in line with our strategic objectives.”

He added: “We would again like to thank our customers for their continued support and our staff for their commitment and contribution to the bank's success.”