Net special commission income decreased by SR62 million, or 3.5 percent, compared with the same period in 2009, reflecting a contraction in average loans and advances, SABB said in a statement on Monday.
Operating income of SR2.57 billion for the six months ended June 30, was down SR104 million or 3.9 percent, compared with SR2.67 billion for the same period in 2009.
Earnings per share of SR1.42 for the six months ended June 30 declined 25.7 percent from SR1.91 for the same period in 2009.
Customer deposits of SR94.2 billion at June 30 registered an increase of SR2.7 billion, or 3.0 percent, compared with SR91.5 billion at June 30, 2009.
Loans and advances to customers of SR74.8 billion at June 30 showed a reduction of SR3.9 billion, or 5.0 percent, from SR78.7 billion at June 30, 2009.
The bank's investment portfolio totaled SAR26 billion at June 30, 2010, an increase of 6.6 percent compared with SR24.4 billion at June 30, 2009.
Total assets were at SR120.3 billion at June 30, compared with SR122 billion at June 30, 2009, a reduction of 1.4 percent or SR1.7 billion.
Khaled Olayan, chairman of SABB, said: "The bank's operating income continues to remain robust. This has been a result of the bank's conscious decision to diversify its income stream in view of market conditions. SABB has continued with its cost containment measures and prudent provisioning, whilst remaining focused on improving our service propositions to our customers through ongoing investment in SABB's infrastructure and affiliates. We are committed to supporting our customers and seeking new opportunities for business growth.
"We thank our customers for their continued support and our staff for their commitment and contribution to the bank's success," Olayan said.
