Riyadh – Mubasher: The Saudi Investment Bank (SAIB) on Sunday denied social media reports regarding a potential merger with another domestic lender, according to a statement to the Saudi Stock Exchange (Tadawul) revealed.

SAIB last reported a 1.1% year-on-year profit hike in the third quarter of 2018, logging SAR 362 million, compared to SAR 358 million during the year-ago period.

From January to September 2018, SAIB’s profits levelled up 2.4% year-on-year to SAR 1.08 billion, compared to SAR 1.06 billion.

By 12:32 pm Saudi time, SAIB’s stock went up 4.45% to SAR 20.18.