Saudi Investment Bank announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

26/10/2021

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total income from Special Commissions/Financing & Investments	707.1	778.9	-9.218	704.1	0.426
Net Income from Special Commissions/Financing & Investments	597.6	575.5	3.84	588.5	1.546
Total Operation Profit (Loss)	684.2	724.9	-5.614	720.7	-5.064
Net Profit (Loss) before Zakat and Income Tax	342.2	381.6	-10.324	313.6	9.119
Net Profit (Loss)	274.3	301.4	-8.991	287.8	-4.69
Total Comprehensive Income	166.7	582.8	-71.396	438.1	-61.949

Element List	Current Period	Similar period for previous year	%Change
Total income from Special Commissions/Financing & Investments	2,075.6	2,558.9	-18.887
Net Income from Special Commissions/Financing & Investments	1,729.1	1,767.4	-2.167
Total Operation Profit (Loss)	2,040	2,155.9	-5.375
Net Profit (Loss) before Zakat and Income Tax	919.4	888.8	3.442
Net Profit (Loss)	775.6	714.4	8.566
Total Comprehensive Income	678.1	875.8	-22.573
Total Share Holders Equity (after Deducting Minority Equity)	14,688	12,807	14.687
Assets	99,640	98,339	1.322
Investments	29,300	29,241	0.201
Loans and Advances Portfolio (Financing & Investment)	58,290	57,723	0.982
Clients' deposits	60,890	59,841	1.752
Profit (Loss) per Share	1.01	0.93	-

All figures are in (Millions) Saudi Arabia, Riyals

Element List	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 decreased by 9.0% due to a decrease in total operating income and an increase in total operating expenses. Total operating income decreased by 5.6% primarily due to a decrease in fee income from banking services, exchange income, fair value through profit and loss, and other income, which was offset by an increase in net special commission income, and gains on disposals of FVOCI debt securities. Total operating expenses increased by 2.3% primarily due to an increase in salaries and employee-related expenses, rent and premises related expenses, depreciation and amortization, and other general and administrative expenses, which was offset by a decrease in provisions for credit and other losses.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	Net profit decreased by 4.7% due to a decrease in total operating income and an increase in provisions for Zakat. Total operating income decreased by 5.1% primarily due to a decrease in fee income from banking services, fair value through profit and loss, gains on disposals of FVOCI debt securities, and other income, which was offset by an increase in net special commission income, and exchange income. Total operating expenses decreased by 14.0% primarily due to a decrease in rent and premises related expenses, other general and administrative expenses, and provisions for credit and other losses, which was offset by an increase in salaries and employee-related expenses, and depreciation and amortization.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Net profit increased by 8.6% due to a decrease in total operating expenses and provisions for Zakat. Total operating expenses decreased by 11.6% primarily due to a decrease in salaries and employee-related expenses, and provisions for credit and other losses, which was offset by an increase in rent and premises related expenses, depreciation and amortization, and other general and administrative expenses. Total operating income decreased by 5.4% primarily due to a decrease in net special commission income, exchange income, dividend income, fair value through profit and loss, and other income, which was offset by an increase in fee income from banking services, and gains on disposals of FVOCI debt securities.
Statement of the type of external auditor's report	Unmodified opinion
Reclassification of Comparison Items	None
Additional Information	Earnings per share for the nine month period ended September 30, 2021 and 2020 was SAR 1.01 and 0.93 respectively, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 696 million shares and 688 million shares respectively representing the weighted average of the issued and outstanding shares after giving effect to the purchase and issuance of 74.9 million treasury 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 bonus element included in the treasury shares issued.

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