SABB net profits in Q4 2010 up
The Saudi British Bank (SABB) has published its annual financial results for the period ended December 31, 2010. The Bank declared nets profit during the fourth quarter to the amount of SR397 million (some US$106 million), compared to SR26 million (US$7 million) for the same quarter of 2009, say an increase of 1427%. The net profit the 3rd quarter amounted to SR419 million, a decrease of 5.3%.
The total operating profit during the fourth quarter reached SR1,116 million compared to SR1.186 million for the same quarter of the previous year, a decrease of 5.9%. Investments at the end of 2010 amounted to SR25 billion compared to SR23.8 billion for the same period in 2009, i.e. an increase of 5%.
- Giving up on the EU? Greece, Cyprus look to GCC investors
- Turkish whistleblower: government can hand over any bank to state fund
- Why Israelis are rushing to empty out their Swiss bank accounts
- Wealth in the land of Arab Spring: Egypt's top ten richest men in 2014
- Will the US dollar peg protect GCC currencies?
- Sorouh Real Estate: Operating profit in Q4 up 60% on Q4 2008
- 'With a 15% Increase Over Q4 2009, Al Rajhi Bank Achieves Net Profit of SR 1,684 Million in Q1 2010
- Jazeera Airways Group reports profitable Q4 2010, drastically shrinks full-year losses
- First Gulf Bank generates a robust Q1 2011 net profit of AED 875 million