Riyadh – Mubasher: Saudi Investment Bank (SAIB) achieved net profits worth SAR 274.3 million during the third quarter (Q3) of 2021, down 8.9% from SAR 301.4 million in Q3-20.

On a quarterly basis, the net profits in Q3-21 were 4.6% lower than SAR 287.8 million in Q2-21, according to the initial financial results.

During the first nine months of 2021, SAIB registered 8.5% higher net profits at SAR 775.6 million, compared to SAR 714.4 million in the January-September 2020 period.

Clients’ deposits increased by 1.7% year-on-year (YoY) to SAR 60.89 billion in the nine-month period this year from SAR 59.84 billion during the same period in 2020.

Assets also rose by 1.3% YoY to SAR 99.64 billion in January-September 2021 from SAR 98.33 billion.