Riyadh – Mubasher: The Saudi Investment Bank (SAIB) registered an annual increase of 8.92% in net profit to SAR 928.80 million during the first half (H1) of 2024, compared to SAR 852.70 million.

Earnings per share (EPS) increased to SAR 0.68 in H1-24 from SAR 0.61 in H1-23, according to the initial financial results.

The clients' deposits reached SAR 95.36 billion as of 30 June 2024, higher by 15.36% year-on-year (YoY) than SAR 82.66 billion.

Assets widened by 15.99% YoY to SAR 143.35 billion in H1-24 from SAR 123.59 billion, whereas the investments rose by 9.70% YoY to SAR 34.78 billion from SAR 31.70 billion.

Income Statements for Q2-24

In the second quarter (Q2) of 2024, the net profits of SAIB hit SAR 486.40 million, marking a growth of 9.59% from SAR 443.80 million a year earlier.

Quarterly, the Q2-24 net profits jumped by 9.94% from SAR 442.40 million as of 31 March 2024.