The Saudi Investment Bank Announces the Interim Financial results for the period ended 30 September 2011 (nine months)

12/10/2011
  1. The third quarter net income was SAR 144 million compared to SAR 149 million for the same quarter last year representing a decrease of 3%, and is compared to a net income of SAR 208 million for the previous quarter, representing a decrease of 31%.
  2. Operating income for the third quarter reached SAR 395 million compared to SAR 437 million for the same quarter last year, representing a decrease of 10%.
  3. Net special commission income for the third quarter reached SAR 301 million compared to SAR 351 million for the same quarter last year, representing a decrease of 14%.
  4. Net income for the nine month period was SAR 560 million compared to SAR 192 million for the same period last year, representing an increase of 192%.
  5. Earnings per share for the nine-month period reached SAR 1.02 compared to SAR 0.35 for the same period last year.
  6. Operating income for the nine month period reached SAR 1,234 million compared to SAR 1,337 million for the same period last year, representing a decrease of 8%.
  7. Net special commission income for the nine-month period reached SAR 939 million compared to SAR 991 million for the same period last year, representing a decrease of 5%.
  8. As of 30/09/2011 total assets reached SAR 50,621 million compared to SAR 49,316 million for the same period last year, representing an increase of 3%. As of 30/09/2011 Investments reached SAR 8,013 million compared to SAR 9,525 million for the same period last year, representing a decrease of 16%. As of 30/09/2011 Loans and advances reached SAR 30,468 million compared to SAR 31,212 million for the same period last year, representing a decrease of 2%. As of 30/09/2011 Customers’ deposits reached SAR 36,645 million compared to SAR 35,598 million for the same period last year, representing an increase of 3%.
  9. The increase in net income for the nine-month period ended 30/09/2011 was primarily due to reduced operating expenses. Earnings per share for the nine-month period ended 30/09/2010 of 0.35 was recalculated to reflect the increase in the Bank’s capital from 450 million shares to 550 million shares which was approved in the extraordinary General Assembly meeting on 26/03/2011.