Operating income of SR1.22 billion for the quarter ended March 31, 2011 was an increase of SR15 million, or 1.2 percent, compared with SR1.21 billion for the same period in 2010.
Customer deposits of SR96.9 billion at March 31, 2011 marked an increase of SR6.9 billion, or 7.7 percent, compared with SR90 billion at March 31, 2010. Loans and advances to customers of SR76.2 billion at March 31, 2011 marked an increase of SR0.5 billion, or 0.7 percent, from SR75.7 billion at March 31, 2010.
The bank's investment portfolio totaled SR24.5 billion at March 31, 2011, an increase of 9.4 percent compared with SR22.4 billion at March 31, 2010. Total assets were SR126 billion at March 31, 2011, compared with SR120.5 billion at March 31, 2010, an increase of 4.6 percent or SR5.5 billion. Earnings per share of SR1.00 for the quarter ended March 31, 2011 marked an increase of 20.5 percent from SR0.83 for the same period in 2010.
SABB Chairman Khaled Olayan said: "SABB's diversified operating income streams, cost containment measures and ongoing drive to book quality business have enabled the bank to report strong profits for the quarter ended March 31, 2011. 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."
