The Saudi Investment Bank (SAIB) reported a net profit of SAR 287 million in Q1 2022, up 34% compared to a profit of SAR 213.5 million in Q1 2021.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Net Special Commission Income | 542.96 | 589.16 | 8.5 % |
| Operating Income | 635.08 | 717.14 | 12.9 % |
| Debt Provisions | (64.84) | (37.76) | 41.8 % |
| Net Income | 213.50 | 287.02 | 34.4 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.17 | 0.23 | 34.4 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Net Special Commission Income | 627.98 | 589.16 | (6.2 %) |
| Operating Income | 723.70 | 717.14 | (0.9 %) |
| Debt Provisions | (45.46) | (37.76) | 16.9 % |
| Net Income | 286.05 | 287.02 | 0.3 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.23 | 0.23 | 0.3 % |
The profit rise came on the back of a 13.6% year-on-year (YoY) increase in total operating income, due to higher net special commission income, fair value through profit and loss, gains on disposals of debt securities listed at fair value through other comprehensive income (FVOCI), in addition to fee income from banking services and exchange income.
Meanwhile, total operating expenses increased by 3.8% YoY primarily due to a rise in other general and administrative expenses, salaries and employee-related expenses, rent and premises-related expenses, as well as depreciation and amortization.
When compared to Q4 2021, SAIB’s net profit inched up 0.3% from SAR 286.05 million in Q4 2021, due to lower operating income.
| Item | 3m 2021 | 3m 2022 | Change |
|---|---|---|---|
| Assets | 96.27 | 109.26 | 13.5 % |
| Customer Deposits | 56.12 | 68.35 | 21.8 % |
| Loan | 55.42 | 59.94 | 8.2 % |
Shareholders’ equity, excluding minority interest, grew by 4.6% to SAR 14 billion by the end of Q1 2022, compared to SAR 13.389 billion in the year-ago period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}