The Saudi Investment Bank Announces the Annual Financial Results for the year ended 31/12/2013 (12 months)

02/01/2014

 The Saudi Investment Bank announces the annual financial results for the year ended 31/12/2013 as follows:

  1. The fourth quarter net income was SAR 326.8 million compared to SAR 245.6 million for the same quarter last year with an increase of 33%, and compared to a net income of SAR 325.4 million for the previous quarter with an increase of 0.4%.
  2. Operating income for the fourth quarter reached SAR 491.2 million compared to SAR 436.4 million for the same quarter last year, an increase of 13%.
  3. Net special commission income for the fourth quarter reached SAR 335.3 million compared to SAR 324.2 million for the same quarter last year, an increase of 3%.
  4. Net income for the year reached SAR 1,286.8 million compared to SAR 912.0 million for last year, an increase of 41%.
  5. Earnings per share for the year reached SAR 2.34 compared to SAR 1.66 for the same period last year.
  6. Operating income for the year reached SAR 2,017 million compared to SAR 1,722 million for last year, an increase of 17%.
  7. Net special commission income for the year reached SAR 1,365 million compared to SAR 1,242 million for last year, an increase of 10%.
  8. Assets reached SAR 80,495 million compared to SAR 59,067 million for the same period last year with an increase of 36%. Investments reached SAR 17,696 million compared to SAR 10,912 million for the same period last year with an increase of 62%. Loans and advances reached SAR 47,567 million compared to SAR 34,051 million for the same period last year with an increase of 40%. Customer deposits reached SAR 57,044 million compared to SAR 40,414 million for the same period last year with an increase of 41%.
  9. The increase in net income during the current quarter compared to the same quarter of last year was due to the increase in operating income in addition to the decrease in operating expenses.
  10. The increase in net income during the current period compared to the same period of last year was due to the increase in operating income in addition to the decrease in operating expenses.
  11. The increase in net income during the current quarter compared to the previous quarter this year was due to the decrease in operating expenses.