This is SAIB’s fourth consecutive Integrated Report. The Bank uses the Report to convey to its stakeholders its strategy, governance, performance, and prospects within the context of the operating environment and how it creates value in the short, medium, and long term.
Integrated reports balance the need to communicate effectively through concise, relevant information while providing comprehensive compliance-related disclosures. The Report is available in print and PDF format as well as in interactive online HTML format with features that make it easier to find, extract, and share information.
Report boundary
The Report largely covers the operations of The Saudi Investment Bank (referred to as “SAIB”) only, unless otherwise stated. The boundary for financial reporting includes SAIB and its subsidiaries and associate companies (referred to as “the Group”).
Reporting period
This report covers the period from January 1, to December 31, 2020 and is consistent with our usual annual reporting cycle for financial and sustainability reporting. There are no restatements of information provided in previous reports and no significant changes from previous reporting periods in the scope and aspect boundaries.
The most recent previous integrated report covered the 12-month period ended December 31, 2019.
This Integrated Report has been issued in both English and Arabic, and in the event of any discrepancy, the Arabic version shall prevail.
Compliance
The information contained herein, as in the past, is in compliance with all applicable laws, regulations, and standards. In preparing this Integrated Report, we have drawn on concepts, principles, and guidelines given in The International <IR> Framework and The Smart Integrated Reporting Methodology™.
As provided in the paragraphs 2.10 and 2.17 – 2.19 of The International <IR> Framework, organisations preparing an integrated report are not required to adopt The <IR> Framework categorisation of capitals. Accordingly, we have categorised the capitals differently in our business model diagram to best describe our value creation process. Our value creation story is a discussion based on our strategic imperatives and their implementation.
The Consolidated Financial Statements as of and for the year ended December 31, 2020 have been prepared in accordance with International Financial Reporting Standards (IFRS) as endorsed the Kingdom of Saudi Arabia (KSA) and other standards and pronouncements issued by the Saudi Organisation for Certified Public Accountants (SOCPA); and are in compliance with the provisions of the Banking Control Law, the Regulations for Companies in the KSA, and the Bank’s Articles of Association.
This report has been prepared in accordance with the GRI Standards: Core option.
Queries
The Bank’s Marketing Department is the custodian of this Report. For comments or queries, please contact the
Chief Marketing Officer, The Saudi Investment Bank.
