Saudi Investment Bank (SAIB) reported a net profit of SAR 1.157 billion in the first nine months of 2022, a 49% increase from SAR 775.6 million in the year-ago period, driven by higher gross operating income and lower gross operating expenses.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,724.42 | 2,019.25 | 17.1 % |
| Operating Income | 2,029.34 | 2,347.81 | 15.7 % |
| Total Provisions | (225.61) | 57.65 | 125.6 % |
| Net Income | 775.61 | 1,157.63 | 49.3 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.62 | 0.93 | 49.3 % |
The profit increase was driven by higher gross operating income and lower gross operating expenses.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Net Special Commission Income | 595.05 | 757.88 | 27.4 % |
| Operating Income | 680.24 | 858.21 | 26.2 % |
| Debt Provisions | (51.03) | 149.02 | 392.0 % |
| Net Income | 274.35 | 549.97 | 100.5 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.22 | 0.44 | 100.5 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Net Special Commission Income | 672.21 | 757.88 | 12.7 % |
| Operating Income | 772.46 | 858.21 | 11.1 % |
| Debt Provisions | (53.61) | 149.02 | 378.0 % |
| Net Income | 320.65 | 549.97 | 71.5 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.26 | 0.44 | 71.5 % |
| EPS Diluted (Riyal) | 0.26 | 0.44 | 69.2 % |
In Q3 2022, the net profit doubled year-on-year (YoY) to SAR 550 million from SAR 274.3 million.
Sequentially, SAIB’s Q3 net profit rose 71.5% from SAR 320.7 million.
Shareholders’ equity, excluding minority interest, fell to SAR 13.293 billion as of Sept. 30, 2022, from SAR 14.688 billion in the year-earlier period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Assets | 99.64 | 106.54 | 6.9 % |
| Customer Deposits | 60.89 | 67.60 | 11.0 % |
| Loan | 58.29 | 64.67 | 10.9 % |
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