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SABB turns to profitability in nine months

SABB turns to profitability in nine months
Earnings per share amounted to SAR 1.35
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Riyadh – Mubasher: Saudi British Bank (SABB) turned to net profits of SAR 2.775 billion in the first nine months of 2021, versus net losses of SAR 4.847 billion in the year-ago period. 

Earnings per share amounted to SAR 1.35 in the period ended 30 September, compared to a loss per share of SAR 2.35 in the same period in 2020, the bank said in a bourse filing on Thursday. 

Total operating profits declined to SAR 5.95 billion in the January-September period from SAR 6.82 billion in the corresponding period a year earlier. 

During the third quarter (Q3) of 2021, the bank logged SAR 886 million in net profits, down by 15.5% year-on-year (YoY) from SAR 1.049 billion.

The total operating income fell to SAR 1.96 billion in Q3-21 from SAR 2.14 billion in Q3-20. 

In the first half (H1) of 2021, SABB achieved net profits after Zakat and tax worth SAR 1.88 billion, against losses worth SAR 5.89 billion in H1-20.