Saudi British Bank reported earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net profit of SAR 607 million compared to SAR 939 million a year ago. Net profit special commission income/investments were SAR 1,236 million compared to SAR 1,076 million a year ago. The decrease in net profit was primarily driven by higher operating expenses which increased by 70.7% mainly due to increase in provision for credit losses and impairment of other financial assets. For the year, the company reported net profit of SAR 3,895 million or SAR 2.6 per share compared to SAR 4,331 million or SAR 2.89 per share a year ago. Net profit special commission income/investments were SAR 4,757 million compared to SAR 4,254 million a year ago. The decrease in net profit was primarily driven by higher operating expenses which increased by 26.6% mainly due to increase in provision for credit losses, impairment of other financial assets and other general and administrative expenses.