The Saudi Investment Bank announces the interim financial results for the period ending on 31-03-2023 (three months)

01/05/2023

ELEMENT LIST	Current YEAR	Similar Quarter For Previous Year	% Change	Previous Quarter	% Change
Gross Income from Special Commissions/Financing & Investments	1,606.8	731.5	119.66	1,346.8	19.3
Net Income from Special Commissions/Financing & Investments	841.7	589.2	42.85	815.7	3.19
Total Operation Profit (Loss)	959.6	717.1	33.82	917.5	4.59
Net Profit (Loss) before Zakat and Income Tax	475.5	350	35.86	300.2	58.39
Net Profit (Loss)	408.9	287	42.47	350.2	16.76
Total Comprehensive Income	512	-254.7	-	363.2	40.97
Total Provisions (Reversals) for Expected Credit and Other Losses, net	81.4	37.8	115.34	249.2	-67.33
Total Operating Expenses Before Provisions for Credit and Other Losses	421	344.8	22.1	384.2	9.58

All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LIST	Current YEAR	Similar Period For Previous Year	% Change
Total Share Holders Equity (excluding Non-Controlling Interest)	14,068	14,007	0.43
Assets	121,901	109,258	11.57
Investments	30,054	29,633	1.42
Loans and Advances Portfolio (Financing & Investment)	73,632	59,936	22.85
Total Provisions (Reversals) for Expected Credit and Other Losses, net	81.4	37.8	115.34
Total Operating Expenses Before Provisions for Credit and Other Losses	421	344.8	22.1
Clients' deposits	79,216	68,353	15.89
Profit (Loss) per Share	0.39	0.27

All figures are in (Millions) Saudi Arabia, Riyals

Element	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Net profit increased by 42.5% due to an increase in total operating income. Total operating income increased by 33.8% primarily due to an increase in net special commission income, exchange income, fair value through profit and loss and gains on disposals of FVOCI debt securities, which was offset by a decrease in fee income from banking services Total operating expenses increased by 31.3% primarily due to an increase in other general and administrative expenses, provisions for credit and other losses, salaries and employee-related expenses and depreciation and amortization, which was offset by a decrease in rent and premises related expenses.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	Net profit increased by 16.8% due to an increase in total operating income and a decrease in total operating expenses. Total operating income increased by 4.6% primarily due to an increase in net special commission income, fee income from banking services, and gains on disposals of FVOCI debt securities, which was offset by a decrease in exchange income. Total operating expenses decreased by 20.7% primarily due to a decrease in provisions for credit and other losses and salaries and employee-related expenses, which was offset by an increase in other general and administrative expenses, depreciation and amortization and rent and premises related expenses.
Statement of the type of external auditor's report	Unmodified opinion.
Reclassification of Comparison Items	Certain prior period amounts have been reclassified to conform to current period presentation.
Additional Information	Earnings per share for the three month period ended march 31, 2023 and 2022 was SAR 0.39 and 0.27 respectively, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 1,000 million shares representing the weighted average of the issued and outstanding shares. The weighted average number of outstanding shares have been retrospectively adjusted for prior period to reflect the effect of the changes in number of shares due to the distribution of bonus shares.

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