The Saudi British Bank (SABB) has reported a net profit of SR3.392 billion for the nine months ended Sept. 30 2015.

This is an increase of SR95 million or 2.9 percent compared to SR3.297 billion for the same period in 2014.

SABB reported a net profit of SR1.140 billion for the three months ended Sept. 30 2015, an increase of SR3 million or 0.3 percent as compared to the three months ended June 30 2015, of SR1.137 billion.

Operating income of SR5.081 billion for the nine months ended Sept. 30 2015 — an increase of SR142 million, or 2.9 percent, compared with SR4.939 billion for the same period in 2014.

Customer deposits of SR155.6 billion at Sept. 30 2015 — an increase of SR11.9 billion, or 8.3 percent compared with SR143.7 billion at Sept. 30 2014.

Loans and advances to customers of SR128.9 billion at Sept. 30 2015 — an increase of SR12.2 billion, or 10.5 percent from SR116.7 billion at Sept. 30 2014.

SABB’s investment portfolio totaled SR43.4 billion at Sept. 30 2015, an increase of SR2.4 billion, or 5.9 percent from SR41.0 billion at Sept. 30 2014.

Total assets were SR197.2 billion at Sept. 30 2015, compared with SR183.0 billion at Sept. 30 2014, an increase of 7.8 percent or SR14.2 billion.

Earnings per share is SR2.26 against SR2.20 (adjusted for bonus share issuance in the ratio of 1:2) for the corresponding nine months of the previous year.

Commenting on the results, Khaled Olayan, chairman of SABB, said: “The solid financial results reflect SABB’s consistent focus on revenue growth and risk management in line with our strategic objectives.”

The chairman added: “SABB’s customer satisfaction levels and industry awards reflect our leading international bank position. SABB’s strong capital position, together with strong credit ratings, continue to support our growth strategies and our ability to enhance shareholder value as business opportunities arise.”

He said: “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.”