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The Saudi Investment Bank (Saib)reported a 16.8% y-o-y rise in net income before zakat and income tax in FY 2023 to c. SAR 1.8 bn on the back of an increase in total operating income, according to a disclosure to Tadawul yesterday. Its topline from its financing and investment business grew 21.4% y-o-y to SAR 3.4 bn in the same period on the back of an increase in gross financing and investment income.
Saib’s investments rose 14.6% y-o-y last year to SAR 32.3 bn, while its assets jumped 19.2% y-o-y to SAR 130 bn. Client deposits were up 19.6% y-o-y to SAR 83.2 bn.
