Saudi British Bank (SABB) reported a net profit of SAR 2.8 billion for the fiscal year of 2019, up 4.2% year-on-year (YoY), the bank said in a bourse statement.
These earnings were mainly driven by higher gross operating income, increased net special commission income, and a rise in profit share from associates.
The bank also cited lower provisions for Zakat and income tax.
In Q4 2019, SABB posted a net profit of SAR 899 million, against a net loss of SAR 168 million a year earlier.
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