Saudi’s SAB records $882.3 mln profits in H1

By Sama Mousa On Jul 30, 2023

Saudi Awwal Bank (SAB) recorded a 58.87 percent increase in net profit to 3.31 billion Saudi riyals during the first half (H1) of 2023. The profits went up from 2.08 billion riyals recorded in H1-2022.

SAB witnessed more client deposits by 7.37 percent at 222.73 billion riyals during January-June 2023, up from 207.45 billion riyals during the same time last year.

Earnings per share (EPS) rose to 1.61 riyals as of 30 June 2023 up from 1.02 riyals the year before, according to the initial financial results.

Assets soared by 10.70 percent to reach 334.91 billion riyals in H1-23, in comparison to 302.53 billion riyals in H1-22.

Investments increased by 28.01 percent to 93.53 billion riyals going up from 73.06 billion riyals.