Riyadh – Mubasher: The Saudi Investment Bank (SAIB) registered a net profit worth SAR 1.31 billion in the first nine months (9M) of 2023, higher by 13.54% than SAR 1.15 billion in 9M-22.

SAIB reported clients’ deposits standing at SAR 85.45 billion in 9M-23, an annual surge of 26.40% from SAR 67.60 billion, according to the initial financial results.

Earnings per share (EPS) hit SAR 1.21 as of 30 September 2023, marking a year-on-year (YoY) growth from SAR 1.10.

Assets increased by 21.86% to SAR 129.82 billion in 9M-23 from SAR 106.53 billion in 9M-22, while the investments widened by 21.56% to SAR 32.75 billion from SAR 26.94 billion.

Income Statements for Q3-23

The net profits of SAIB reached SAR 461.60 million in the third quarter (Q3) of 2023, lower by 16.07% YoY than SAR 550 million.

On a quarterly basis, the Q3-23 profits increased by 4.01% from SAR 443.80 million in Q2-23.