The Saudi Investment Bank Announces the Interim Financial Results for the Period ended 30 June 2011 (six months)

09/07/2011
  1. The second quarter net income was SAR 208 million compared to SAR 22 million for the same quarter last year with an increase of 845%, and compared to a net income of SAR 208 million for the previous quarter.
  2. Operating income for the second quarter reached SAR 425 million compared to SAR 449 million for the same quarter last year, a decrease of 5%.
  3. Net special commission income for the second quarter reached SAR 322 million compared to SAR 328 million for the same quarter last year, a decrease of 2%.
  4. Net income for the six months period was SAR 416 million compared to SAR 43 million for the same period last year, an increase of 867%.
  5. Earnings per share for the six month period reached SAR 0.76 compared to SAR 0.08 for the same period last year.
  6. Operating income for the six month period reached SAR 839 million compared to SAR 900 million for the same period last year, a decrease of 7%.
  7. Net special commission income for the six month period reached SAR 639 million compared to SAR 640 million for the same period last year, a decrease of 0.15%.
  8. Assets as of 30/06/2011 reached to SAR 50,569 million compared to SAR 48,866 million for the same period last year with an increase of 3.5%. Investments reached SAR 8,780 million compared to SAR 10,097 million for the same period last year with a decrease of 13%. Loans and advances reached SAR 30,634 million compared to SAR 30,553 for the same period last year with an increase of 0.3%. Customers’ deposits reached SAR 36,084 million compared to SAR 35,774 for the same period last year with an increase of 1%.
  9. The increase in net income in the first half of 2011 and the second quarter of 2011 compared to the first half of 2010 and the first quarter of 2011, respectively, was due to a decrease in operating expenses. Earnings per share for the first six months of 2010 was SAR 0.08, and this 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.