Riyadh – Mubasher: Saudi Investment Bank (SAIB) generated net profits worth SAR 1.50 billion in 2022, an annual hike of 42.03% from SAR 1.06 billion, according to the annual income statements.

Earnings per share (EPS) stood at SAR 1.37 last year, compared to SAR 0.99 in January-December 2021.

SAIB reported clients’ deposits worth SAR 69.57 billion as of 31 December 2022, higher by 13.16% year-on-year (YoY) than SAR 61.48 billion.

Assets grew by 7.33% to SAR 109.07 billion in 2022 from SAR 101.61 billion in 2021, whereas the bank’s investments declined by 2.29% to SAR 28.18 billion from SAR 28.84 billion.

In the first nine months (9M) of 2022, the Saudi lender registered SAR 1.15 billion in net profit, up 49.25% YoY from SAR 775.60 million.

Meanwhile, the EPS rose to SAR 1.10 in 9M-22 from SAR 0.75 in 9M-21.