Results reflect wider banking sector growth
Saudi British Bank (Sabb) reported profits of SR1.05bn ($279m) for the third quarter, marking a 25.21 per cent increase compared with the same period last year.
The growth is in line with profit hikes seen across the majority of the kingdoms banking system in the quarter ending 30 September.
However, the lenders results fell compared with the previous quarter, declining by 8.49 per cent from SR1.16bn.
Sabbs assets grew by 10 per cent by the end of September to reach SR182.95bn. Lending also picked up, with the banks loans and advances portfolio increasing by 8.19 per cent to reach SR116.67bn.
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