Riyadh – Mubasher: Saudi Investment Bank (SAIB) has posted a 21.22% year-on-year (YoY) growth in net profit to SAR 607.70 million during the first half (H1) of 2022, compared to SAR 501.30 million.

Earnings per share (EPS) stood at SAR 0.56 in H1-22, versus SAR 0.48 in H1-21, according to the interim financial results on Thursday.

The clients’ deposits increased by 12.84% YoY to SAR 67.45 billion in the first six months (6M) of 2022 from SAR 59.78 billion.

Meanwhile, the investments declined by 4.96% to SAR 28.38 billion in January-June 2022, compared to SAR 29.86 billion in the year-ago period.

The assets amounted to SAR 110.79 billion in H1-22, higher by 12.59% YoY than SAR 98.40 billion.

During the second quarter (Q2) of 2022, the Saudi lender logged net profits worth SAR 320.70 million, an annual jump of 11.43% from SAR 287.80 million.

The bank’s board recently agreed to disburse cash dividends of SAR 300 million for H1-22 on 14 August.

In the January-March 2022 period, SAIB generated SAR 287 million in net profit, up 34.42% from SAR 213.50 million during the same period a year earlier.