Riyadh - Emlak
SABB's net profit for 2012 amounted to SAR 3,240 million, an increase of SAR 352 million, representing an increase of 12.2%, compared to SAR 2,888 million for 2011. Net profit for the three-month period ended December 31, 2012 was SAR 815 million, an increase of SAR 160 million, representing an increase of 24.3TP3T compared to SAR 656 million for the three-month period ended September 30, 2012.
Income from operations for 2012 amounted to SAR 5,167 million, an increase of SAR 268 million, representing an increase of 5.5% compared to SAR 4,899 million for 2011.
Customer deposits amounted to SAR 120.4 billion as of December 31, 2012, an increase of SAR 14.8 billion, representing an increase of 14.% compared to SAR 105.6 billion as of December 31, 2011.
Customer loans and advances as of December 31, 2012 amounted to SAR 96.1 billion, an increase of SAR 11.3 billion, representing an increase of 13.3% compared to SAR 84.8 billion as of December 31, 2011.
The Bank's total investment portfolio as of December 31, 2012 was SAR 27.6 billion, representing an increase of 24.3% compared to SAR 22.2 billion as of December 31, 2011.
Total assets as of December 31, 2012 were SAR 156.7 billion compared to SAR 138.7 billion as of December 31, 2011, an increase of 13.0% and equivalent to SAR 18.0 billion.
Earnings per share for 2012 amounted to SAR 3.24 compared to SAR 2.89 for the previous year (adjusted to correspond to the bonus shares issued after increasing the bank's capital from SAR 7.5 billion to SAR 10.0 billion at 1 share for every 3 shares held).
Commenting on the results, Khalid Olayan, Chairman of SABB, said: “SABB's strategy of diversifying operating income streams and effective expense management enabled the Bank to post another strong financial performance in 2012. The Bank continued to focus on strong asset quality, liquidity and capital adequacy ratios. ”
”We would like to take this opportunity to thank our valued customers for their continued support and our employees for their dedication and commitment to the Bank's success,“ concluded Mr. Olayan.