The Saudi Investment Bank (SAIB) posted a 40% rise in H1 2023 net profit to SAR 852.7 million, compared to SAR 607.7 million in the prior-year period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,261.38 | 1,705.19 | 35.2 % |
| Operating Income | 1,489.60 | 1,948.91 | 30.8 % |
| Total Provisions | (91.37) | (160.91) | (76.1 %) |
| Net Income | 607.67 | 852.70 | 40.3 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.49 | 0.68 | 40.3 % |
| EPS Diluted (Riyals) | 0.49 | 0.68 | 38.8 % |
The profit rise was spurred by higher operating income, mainly due to a rise in net special commission income, foreign exchange income, and fair value through profit and loss.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Net Special Commission Income | 672.21 | 863.51 | 28.5 % |
| Operating Income | 772.46 | 989.30 | 28.1 % |
| Debt Provisions | (53.61) | (79.56) | (48.4 %) |
| Net Income | 320.65 | 443.79 | 38.4 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.26 | 0.36 | 38.4 % |
| EPS Diluted (Riyal) | 0.26 | 0.38 | 46.2 % |
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Assets | 110.80 | 123.59 | 11.5 % |
| Customer Deposits | 67.46 | 82.66 | 22.5 % |
| Loan | 62.26 | 77.30 | 24.2 % |
Shareholders’ equity, no minority interest excluding sukuk, increased to SAR 13.98 billion as of June 30, 2023 from SAR 13.51 billion a year earlier.
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