Riyadh – Mubasher: Saudi British Bank (SABB) announced its interim financial results for the first quarter (Q1) of 2022 which indicated a 3.50% year-on-year (YoY) increase in net profits to SAR 1 billion from SAR 970 million.
Earnings per share inched up to SAR 0.49 in Q1-22 from SAR 0.47 in Q1-21, according to a bourse disclosure on Tuesday.
Clients’ deposits grew by 5.55% YoY to SAR 193.88 billion from SAR 183.69 billion in Q1-21.
SABB’s assets reached SAR 282.69 billion at the end of Q1-22, up by 4.10% from SAR 271.55 billion in Q1-21.
The Saudi lender recorded investments of SAR 65.58 billion during January-March 2022, higher by 3.73% YoY than SAR 63.22 billion.
On a quarterly basis, the net profits in Q1-22 were 135.12% higher than SAR 427 million in Q4-21.
Last year, SABB turned profitable at SAR 3.2 billion, against net losses of SAR 4.17 billion in 2020.
