Riyadh – Mubasher: The net profits of Saudi Investment Bank (SAIB) reached SAR 1.15 billion in the first nine months (9M) of 2022, higher by 49.25% than SAR 775.60 million in 9M-21.

The earnings per share (EPS) increased to SAR 1.10 in 9M-22 from SAR 0.75 in the year-ago period, according to the initial income statements.

Furthermore, the clients’ deposits amounted to SAR 67.60 billion during the January-September 2022 period, an 11.08% year-on-year (YoY) jump from SAR 60.86 billion.

The assets rose by 6.92% YoY to SAR 106.53 billion in 9M-22 from SAR 99.64 billion, whereas the investments retreated by 8.04% YoY to SAR 26.94 billion from SAR 29.30 billion.

During the third quarter (Q3) of 2022, the bank logged net profits worth SAR 550 million, an annual leap of 100.51% from SAR 274.30 million.

On a quarterly basis, the Q3-22 net profits enlarged by 71.5% from SAR 320.70 million in Q2-22.        

In the first half (H1) of 2022, the Saudi lender generated SAR 607.70 million in net profit, up 21.22% YoY from SAR 501.30 million.

Last August, SAIB distributed cash dividends after Zakat worth SAR 300 million, equivalent to SAR 0.30 per share, for H1-22.