Standard and Poor's affirms SABB's ratings
- Saudi Arabia: Monday, October 15 - 2012 at 11:31
- PRESS RELEASE
Standard and Poor's (S&P), one of the world's leading credit rating agencies, has affirmed The Saudi British Bank's (SABB) ratings of "A/A-1" with a stable outlook.
For the first nine months of 2012, SABB recorded a net profit of SAR2,425m, an increase of SAR192m or 8.6% better than the same period in 2011.
Commenting on the ratings affirmation, David Dew, Managing Director of SABB, said: "We are pleased with S&P's ratings confirmation and the stable outlook. It is an indication of SABB's financial strengths, continuous prudent risk management and the scale and diversity of our revenue-generating operations, which have enabled the Bank to deliver sound and strong performance."
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