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SABB second-quarter profits down 1.7%

SABB second-quarter profits down 1.7%
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SAB
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-0.65% 36.82 -0.24

Riyadh-Mubasher: Saudi British Bank (SABB), an affiliate of HSBC Holdings, posted SAR 1.13 billion in net earnings for the second quarter of 2015, falling 1.7% compared with SAR 1.15 billion in the same quarter of 2014.

Six-month net income rose 0.66% year-on-year from SAR 2.23 billion to SAR 2.25 billion.

The lender attributed the profit growth to a rise in total operating income.

However, H1 profit decline was due to a decrease in total operating expenses, SABB said.