Saudi British Bank (SABB) has reported a net profit of SAR 3.29 billion for the first nine months of 2016, 3.07 percent lower year-on-year on an 11 percent increase in gross operating expenses, attributed to higher loan loss provisions, as well as G&A expenses.
Net Special Commission Income
The bank’s net profit for third quarter fell 12.7 percent YoY to SAR 995 million, impacted by a 23.3 percent rise in gross operating expenses, higher provisions, and general expenses. The profit for the period was 13.55 percent lower compared to the previous quarter due to a 14.2 percent jump in gross operating expenses. Gross operating income for the period also fell by by 4.2 percent on lower income from fees and commissions.