Saudi British Bank shares end lower despite 26% profits jump

  • 10/20/2022
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RIYADH: Saudi British Bank saw its share price decline, despite reporting a 26-percent surge in profits in the first nine months of 2022. SABB shed 2.08 percent ro reach SR42.30 ($11.26) at the closing of Thursday. SABB, which was voted the best bank in 2022, has recorded SR3.5 billion ($931 million) profit for the period ending on Sept. 30, largely due to a rise in operating income. This is up from SR2.8 billion in the prior-year period, the bank said in a bourse filing. Besides an increase in total operating income, SABB said the rise in associate earnings also contributed to the results.

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