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SABB’s profits exceed SAR 2bn in H1-22 interim financials

SABB’s profits exceed SAR 2bn in H1-22 interim financials
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Riyadh – Mubasher: Saudi British Bank (SABB) has registered net profits worth SAR 2.08 billion during the first half (H1) of 2022, an annual increase of 10.43% from SAR 1.88 billion.

Earnings per share (EPS) stood at SAR 1.02 in H1-22, compared to SAR 0.92 in H1-21, according to the initial income statements on Wednesday.

Meanwhile, clients’ deposits surged by 11.04% in the first six months (6M) of 2022 to SAR 207.45 billion, versus SAR 186.82 billion in the year-ago period.  

Moreover, the investments enlarged by 12.17% year-on-year (YoY) in H1-22 to SAR 73.06 billion from SAR 65.13 billion, while assets reached SAR 302.53 billion in H1-22, a 10.84% hike from SAR 272.93 billion during the same period a year earlier.

In the second quarter (Q2) of 2022, the bank’s net profits amounted to SAR 1.08 billion, higher by 17.74% than SAR 919 million in Q2-21.

Last July, the Saudi lender paid cash dividends worth SAR 1.13 billion for H1-22.

During the January-March 2022 period, SABB posted a 3.50% YoY growth in net profit to SAR 1 billion from SAR 970 million.