The Saudi Investment Bank announces the interim financial results for the period ending on 31-03-2024 (three months)

The Saudi Investment Bank announces the interim financial results for the period ending on 31-03-2024 (three months)

Element List Explanation The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is Net special commission income increased by 0.1% primarily due to increase in gross financing and investment returns. 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 increased by 8.2% due to an increase in total operating income. Total operating income increased by 3.3% primarily due to an increase in fair value through statement of income, fee income from banking services and net special commission income which was offset by a decrease in gains on disposals of FVOCI debt securities and exchange income. Total operating expenses increased by 0.8% primarily due to an increase in other general and administrative expenses, depreciation and amortization, salaries and employee-related expenses and provisions for credit and other losses, which was offset by a decrease in rent and premises related expenses.