Riyadh on 07/04/2013
The Saudi Investment Bank announces its interim 1st Quarter results as of 31/03/2013 (Three Months) as follows:
(1) The first quarter net income was SAR 314.3 million compared to SAR 212.2 million for the same quarter last year with an increase of 48%, and compared to a net income of SAR 245.6 million for the previous quarter with an increase of 28%.
(2) Operating income for the first quarter reached SAR 505.4 million compared to SAR 458.6 million for the same quarter last year, with an increase of 10%.
(3) Net special commission income for the first quarter reached SAR 339.6 million compared to SAR 290.7 million for the same quarter last year, with an increase of 17%.
(4) Earnings per share for the three months reached SAR 0.57 compared to SAR 0.39 for the same period last year.
(5) Assets as of 31/03/2013 reached SAR 63,129 million compared to SAR 52,189 million for the same period last year with an increase of 21%. Investments reached SAR 15,328 million compared to SAR 9,001 million for the same period last year with an increase of 70%. Loans and advances reached SAR 36,990 million compared to SAR 27,981 million for the same period last year with an increase of 32%. Customers’ deposits reached SAR 44,039 million compared to SAR 36,945 million for the same period last year with an increase of 19%.
(6) The increase in net income for the first quarter of 2013 compared to the same period last year was due to the increase in operating income in addition to the decrease in operating expenses.
(7) The increase in net income for the first quarter of 2013 compared to the previous quarter was due to the increase in operating income.
