Saudi British Bank (SABB) has released its 2017 financial results.
The bank recorded a net profit of SR3.955 billion ($1.05 billion) for 2017 — an increase of 1.5 percent on the SR3.895 billion for 2016.
SABB recorded a net profit of SR706 million in the fourth quarter of 2017, a decrease of 34.8 percent on the previous quarter.
SABB’s 2017 operating income was SR7.127 billion, an increase of 3.2 percent on the 2016’s SR6.909 billion.
Loans and advances for 2017 totalled SR117 billion, a decrease of SR4 billion, or 3.3 percent, on the SR121 billion of 2016.
SABB received SR140.2 billion in customer deposits in 2017, a decrease of 0.3 percent on the previous year’s SR140.6 billion.
SABB recorded SR27 billion of investments in 2017, a decrease of 7.8 percent from 2016.
SABB’s total assets in 2017 came to SR187.6 billion, an increase of SR1.5 billion on 2016.
Shareholders earned SR2.64 per share in 2017 compared to SR2.60 the previous year.
Commenting on the results, SABB Chairman Khaled Olayan said: “During 2017, SABB delivered resilient returns and increased the distribution to shareholders under challenging economic conditions.
“The SABB board and its management team have been focused on supporting our customers and the nation’s economic transformation agenda. The bank remains highly liquid with strong capital, stable funding and a uniquely valuable franchise as the leading international bank in the Kingdom.”
He added: “I would like to thank our customers, staff and shareholders for their support and commitment. I would also like to express my sincere thanks and appreciation to our regulators and government ministries for their continued guidance and vision.”
SABB reports 2017 profit of SR3.955bn
SABB reports 2017 profit of SR3.955bn
ALJ Motors champions Toyota SUVs’ off-road legacy
Abdul Latif Jameel Motors, the authorized distributor of Toyota vehicles in Saudi Arabia since 1955, has launched the second edition of its off-road initiative — an immersive driving experience designed to engage guests and showcase the real-world capabilities of Toyota’s SUV lineup in the Kingdom’s desert terrains. The activation takes place on weekends, starting initially in Riyadh and continuing through Jeddah, before concluding in Dammam on Jan. 24.
The multi-city activation is designed to engage guests through Toyota’s SUV lineup in fun and exciting ways, offering a hands-on opportunity to experience vehicle performance, control, and versatility. The lineup features a wide range of Toyota SUV models, including the Land Cruiser HEV Max, a hybrid vehicle built for performance. Beyond the off-road drives, the activation offers a welcoming weekend setting with supporting activities suitable for families and younger guests, creating a well-rounded experience for visitors of all ages.
Building on the success of its inaugural edition, which welcomed more than 4,500 participants and attracted over 10,000 attendees, the second edition continues to focus on meaningful guest engagement through interactive and experiential driving activities while emphasizing safety, trust, and enjoyment. Through this approach, ALJ Motors champions Toyota’s off-road legacy while creating an experience that further connects guests with Toyota’s renowned SUV lineup.
Shahad Nassier, managing director of marketing communications at ALJ Motors, said: “Following the strong response to the inaugural season, the return of this off-road experience allows us to continue engaging our guests in an authentic and exciting way. In this second edition, we have further refined the driving routes and elevated the overall experience to better serve our guests and their families. By bringing Toyota’s SUV lineup into real desert environments, we provide an opportunity for guests to experience vehicle performance firsthand, while reinforcing the values of reliability and capability that have long defined Toyota’s presence in the Kingdom.”
The experiential initiative deepens guest relationships, supports informed vehicle choice, and reflects ALJ Motors’ ongoing role in delivering reliable and diversified mobility solutions across the Kingdom, in line with Saudi Vision 2030.
Guests interested in participating in the off-road experience can register for the upcoming activations in Jeddah on Jan. 9-10, followed by Dammam on Jan. 16-17 and 23-24, through ALJ Motors’ official social channels.
