Riyadh – Mubasher: The Saudi British Bank (SABB) reported a 23.77% year-on-year rise in profits during the first quarter of 2019.
SABB’s profits amounted to SAR 1.29 billion in Q1-19, up from SAR 1.04 million during Q1-18, according to a statement on Monday to the Saudi Stock Exchange (Tadawul).
The bank attributed the growth of Q1-19 earnings to an increase in net special commission income, a rise in exchange income net, whereas operating expenses levelled down.
Quarter-on-quarter, profits went up 6.2%, from SAR 1.21 billion in the fourth quarter ended on 31 December 2018.
