Riyadh-Mubasher: Saudi Investment Bank (SAIB) posted net earnings of SAR 351 million for the third quarter of 2015, down 5.3% from SAR 371 million in the same period of 2014.

Meanwhile, Net profits for the first nine months of 2015 rose 3.6% year-on-year from SAR 1.06 billion to SAR 1.1 billion.

The profit decline in the third quarter was due to higher operating expenses, the bank said in a bourse statement on Monday, adding that the profit growth during the nine-month period was boosted by increase in share in associates' earnings.