SAIB profits in Q3 down

On a quarterly basis, the net profits in Q3-21 were 4.6% lower

  
Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019. Image for illustrative purposes.

Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019. Image for illustrative purposes.

REUTERS/Ahmed Yosri
Riyadh – Mubasher: Saudi Investment Bank (SAIB) achieved net profits worth SAR 274.3 million during the third quarter (Q3) of 2021, down 8.9% from SAR 301.4 million in Q3-20.

On a quarterly basis, the net profits in Q3-21 were 4.6% lower than SAR 287.8 million in Q2-21, according to the initial financial results.

During the first nine months of 2021, SAIB registered 8.5% higher net profits at SAR 775.6 million, compared to SAR 714.4 million in the January-September 2020 period.

Clients’ deposits increased by 1.7% year-on-year (YoY) to SAR 60.89 billion in the nine-month period this year from SAR 59.84 billion during the same period in 2020.

Assets also rose by 1.3% YoY to SAR 99.64 billion in January-September 2021 from SAR 98.33 billion.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities