The Saudi British Bank (SABB) recorded a net profit of SR2,471 million ($658.76 million) for the six months ending June 30, 2018. This is an increase of SR306 million or 14.1 percent compared to SR2,165 million for the same period in 2017.
SABB recorded a net profit of SR1,432 million for the three months ended June 30, 2018, an increase of SR303 million or 26.8 percent compared to SR1,129 million in the three months ended June 30, 2017.
The operating income was SR3,653 million for the six months ended June 30, 2018, an increase of SR28million, or 0.8 percent, compared to SR3,625 million for the same period in 2017.
The loans and advances to customers were SR113.4 billion on June 30, 2018, a decrease of SR4.5 billion, or 3.8 percent, from SR117.9 billion on June 30, 2017.
The customers’ deposits were SR132.9 billion on June 30, 2018, a decrease of SR5.4 billion, or 3.9 percent, compared with SR138.3 billion on June 30, 2017.
The bank’s investment portfolio was SR32.3 billion on June 30, 2018, an increase of SR11 billion, or 51.6 percent, from SR21.3 billion on June 30, 2017.
There were total assets of SR183 billion on June 30, 2018, an increase of SR0.5 billion, or 0.3 percent from SR182.5 billion on June 30, 2017.
The earnings per share were SR1.65 compared to SR1.44 for the corresponding period of the previous year.
Sheikh Khaled Olayan, chairman of SABB, said: “As the leading international bank in the Kingdom, SABB continued to contribute to the national economic transformation agenda while growing shareholder value through resilient financial results for the first half of 2018. The bank remains well capitalized and highly liquid to support future growth.”
SABB reports profit of SR2,471m
SABB reports profit of SR2,471m
Dammam Airports partners with KaarTech to transform IT services
Dammam Airports, a key player in Saudi Arabia’s aviation sector, has partnered with KaarTech to deliver end-to-end IT managed services across its airport network in the Eastern Province.
This milestone advances Saudi Arabia’s Vision 2030 and strengthens Dammam Airports’ commitment to delivering world-class travel experiences. The collaboration was inaugurated through an official signing ceremony attended by Mohammed Al-Hassany, CEO of Dammam Airports, and Shahinsha Abdul Basheer, CEO of KaarTech, signifying a shared commitment to shaping the future of Saudi Arabia’s aviation through innovation and intelligent technology.
Recognized as one of the world’s largest airports by land area, Dammam Airports connects more than 12 million passengers each year and plays a vital role in strengthening the Kingdom’s aviation growth. With this partnership, the company is set to transform its IT landscape into a secure, scalable, and intelligent environment that supports the complexities of modern airport operations.
KaarTech will manage the complete IT landscape across three airports, covering infrastructure, cloud, and network operations, along with 24/7 service management. This engagement also includes comprehensive application support beyond SAP, enriched with automation, proactive governance, and predictive intelligence. KaarTech will enable Dammam Airports to achieve resilience, efficiency, and long-term scalability through a comprehensive AI governance approach that embeds transparency, accountability, and innovation into every layer of IT operations, positioning the company as a trusted driver of aviation modernization.
This partnership aims to transform IT from a back-end function into an AI-enabled strategic driver of business performance and passenger experience. From ensuring business continuity and strengthening operational reliability to enabling connected, insight-driven airport services, the collaboration reflects a shared commitment to data-driven, intelligent, and sustainable aviation.
Through this engagement, KaarTech reaffirms its position as a trusted partner in AI-led enterprise transformation, delivering deep expertise in managing complex technology ecosystems with intelligence and precision. For Dammam Airports, the partnership represents a decisive step in aligning operational excellence with the national vision for innovation, digital connectivity, and long-term growth.
Together, the two organizations will drive smarter airport operations and deliver sustainable value for the Kingdom’s growing aviation ecosystem.
