SAIB sets aside SAR 45 mln provisions in Q4-2014: Report

14/01/2015 Argaam

Saudi Investment Bank (SAIB) has allocated SAR 45 million in provisions for fourth quarter of 2014, said Musaed Al-Mineefi, general manager of the company.

Al-Mineefi told Al Arabiya news channel that the bank is moving forward with its “prudent” policy.

Current client accounts represented around 28 percent of total deposits this year, he added. The central bank’s mortgage loan regulations have no impact on the bank, he pointed out.

SAIB recently posted its interim financial results for Q4-2014, which reflected SAR 375 million in earnings, leaping 15 percent year-on-year, according to data available on Argaam.

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