Riyadh – Mubasher: The Saudi Investment Bank (SAIB) generated SAR 852.70 million in net profit during the first half (H1) of 2023, an annual surge of 40.31% from SAR 607.70 million.
The lender posted 22.54% higher clients’ deposits at SAR 82.66 billion during January-June 2023, versus SAR 67.45 billion in the year-ago period.
Earnings per share (EPS) jumped to SAR 0.77 as of 30 June 2023 from SAR 0.56 a year earlier, according to the initial financial results.
Assets climbed by 11.50% to SAR 123.59 billion in H1-23 from SAR 110.79 billion in H1-22, while investments hiked by 11.72% to SAR 31.70 billion from SAR 28.38 billion.
Income Statements for Q2-23
In the second quarter (Q2) of 2023, the net profits of SAIB amounted to SAR 443.80 million, up 38.38% year-on-year (YoY) from SAR 320.70 million.
On a quarterly basis, the recorded profits in Q2-23 increased by 8.54% from SAR 408.90 million in Q1-23.
