Sabb's profits have risen by 9.2 per cent for the third quarter of 2008 to SR711m ($190m), as a result of a 54.2 per cent increase in loans and advances.
Deposit growth was slower at 36.1 per cent, indicating the difficulty that regional banks are having in continuing to grow deposits at the same rate as loans.
Total deposits are currently SR95.7bn while total loans are SR83.6bn.
Assets held by the bank totalled SR132.6bn at the end of September, and expenses increased by 18.9 per cent during the first nine months of the year to SR184m, largely due to recruitment costs.
The bank's investment portfolio totalled SR36bn at the end of September, up from SR17bn on 30 September 2007.
You might also like...
TotalEnergies to acquire remaining 50% SapuraOMV stake
26 April 2024
Hyundai E&C breaks ground on Jafurah gas project
26 April 2024
Abu Dhabi signs air taxi deals
26 April 2024
Spanish developer to invest in Saudi housing
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
