Riyadh – Mubasher: Net profits of the Saudi Investment Bank (SAIB) totalled SAR 980 million in 2020, a surge of 310% when compared to SAR 239 million in 2019.

This surge in annual profit was boosted by lower total operating expenses. Moreover, total operating income rose by 1%, according to a stock exchange disclosure on Thursday.

Meanwhile, the bank’s assets levelled down by 0.9% last year to reach SAR 99.9 billion, compared with SAR 100.8 billion in 2019.