RIYADH: The Saudi Investment Bank has reported net profit of SR287 million ($76 million) in the first quarter of 2022, registering a 34-percent growth over the same period last year, it said in a bourse filing.
The bank’s total operating profit in the first quarter was SR721 million, up 13.5 percent from Q1 2021, but it was down by 0.9 percent when compared with the previous quarter.
The shareholders' equity in the bank currently stands at SR14 billion, up 4.6 percent from the same period the previous year.
SAIB attributed the rise in net profit to an increase in the total operating income by 13.6 percent. It said the performance was characterized by a rise in net special commission income, fair value through profit and loss and fee income from banking services.
