audi Investment Bank announced the achievement of net income of 631 Million for the nine months period ended 30 September 2009, compared with SR 604 Million for the corresponding period last year, an increase of 4%.
The net special commission income for the current period declined by 10% to reach SR 744 Million compared with SR 827 Million for the corresponding period last year due to the general decline in the local and international interest rates. The total operating income reached to SR 1,049 Million compared with SR 1,511 Million for the corresponding period last year,
The S a decrease of 31% which was due to the decrease in the gains on non-trading investments which reached SR 86 Million compared to SR 136 Million for the corresponding period last year, in addition to the decrease in the fees from banking services by SR 199 Million to reach SR 176 Million due to the decrease in the volumes of trading in the local and international markets. Earnings per share reached SR 1.40 compared to SR 1.34 for the corresponding period last year.
The Bank booked SR 120 Million in loan loss provision for the nine-month period ending 30 September 2009, to continue to pursue its conservative policy of setting aside additional sufficient provisions in order to enable it to expand its lending activities and to increase its participation in the development of the national economy and the support of its productive sectors.
The Balance Sheet highlighted the growth in the loans portfolio by 2% to reach SR 30,526 Million compared with SR 29,874 Million for the same period last year. The decline in the total assets was due to the decline in the Due From Banks and Financial Institutions from its level at year-end 2008, which came alongside with the decrease in the Due to Banks and Financial Institutions and Customer Deposits in the current year.
