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Saudi British Bank posts 157% jump in net profit to $750m

The bank reported a nearly 59 percent increase in H1 net profit.
By TRENDS Desk
October 28, 2021 7:07 pm
  • “We are investing considerably across the business front-to-back, to ensure that we remain relevant and can create a sustainable banking organization”
  • The chairman reiterated the bank’s efforts to support Saudi’s Vision 2030 plan and unlock the opportunities brought by the economic transformation plans

The Saudi British Bank (SABB) has posted a 157 percent increase in net profit to $750 million for the first nine months of 2021.

“It is worth reiterating that we are in the investment phase of our newly announced five-year strategic plan, where we will be taking the necessary steps to develop the Bank into an institution fit to meet the future needs of our customers,” chairman of SABB, Lubna Olayan, said.

“We are investing considerably across the business front-to-back, to ensure that we remain relevant and can create a sustainable banking organization,” she added.

The chairman reiterated the bank’s efforts to support Saudi’s Vision 2030 plan and unlock the opportunities brought by the economic transformation plans.

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