The Saudi British Bank (SABB) recorded a seismic leap of 157 percent in net profit after Zakat and income tax of SR2.8 billion ($750m) for the first 9 months of 2021, compared to the loss of SR4.8 billion in the same period last year.
“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.