The Saudi Investment Bank announced that during the Third Quarter of 2001, it has achieved net profits of SR 243 Million compared with SR 213 Million achieved during the same period last year. This is an increase of 14%. The Statement of Income demonstrated a continued growth in profits achieved in all income categories. Operating income increased by 11%, to SR 375.2 Million compared with SR 338.5 Million for the same period last year. On the expenses side, the Bank has continued to keep the expenses well under control. This has enabled the Bank to maintain its leadership in efficiency by achieving the best efficiency ratio of 29% among all Saudi and regional Banks. This reflects the Bank's continued conservative policy with regard to the expenses. The Return on assets reached 2.3% compared with 2.1% for the same period last year and the Return on shareholders' equity rose to 16.1%. As regards to the Balance Sheet highlights, the assets increased by SR 1,627 Million, reaching to SR 14,921 Million compared with SR 13,294 Million for the same period last year. This is a growth in assets of 12%. The investment portfolio increased by SR 703 Million at a growth ratio of 16%. The Bank's loan portfolio increased to SR 7,925 Million, with a growth ratio of 8%. On the liabilities side, the customers' deposits in the Bank rose to SR 11,310 Million by SR 1,282 Million in comparison with SR 10,028 Million during the same period a year earlier. Dr. Abdul Aziz Al-Abdallah Al O'hali, Chairman of The Saudi Investment Bank, expressed his complete satisfaction with the results achieved. He reiterated his confidence in the Bank's potential to pursue more progress and boast ever improving results. He highlighted the significance of the results and added that these have been achieved by a fully saudized executive management. Mr. Saud Saleh Al Saleh, the General Manager of The Saudi Investment Bank, emphasized the sustained growth of the Bank's business, its potential to continue to be increasingly competitive, to carve out a larger share of the market, and to introduce new products in Retail Banking following the success achieved in lending on Murabaha basis. Latest Articles Stay connected to your banking, through our customer care team, digital channels, and branches everywhere. 9 Jun 2024 The Saudi Investment Bank and Saudia’s AlFursan Loyalty Program Unveil Pioneering “Travel Account” In partnership with Saudia’s AlFursan loyalty program, The Saudi Investment Bank (SIB) has introduced the "Travel Account," a... 26 Oct 2023 The Saudi Investment Bank signs an official partnership agreement with Real Madrid CF The Saudi Investment Bank (SIB) announced today its new partnership agreement with Real Madrid CF. This collaboration aims to... 21 Apr 2021 The Saudi Investment Bank: First bank in the Kingdom to adopt Cisco Innovative Technologies Cisco’s innovative network infrastructure enables The Saudi Investment Bank to quickly adapt to changes in business needs while... 2 Feb 2020 Microsoft publishes a customer story on The Saudi Investment Bank’s applications of ‘Microsoft Power BI’ platform Microsoft just published on its official portal a customer story brief about The Saudi Investment Bank applications of Microsoft... 12 Nov 2019 SIB’s Integrated Report 2018 wins the most prestigious global award for annual reports The International ARC Awards have awarded The Saudi Investment Bank’s (SIB) Integrated Report 2018 the Grand Award for the Best of... 7 Jul 2019 The Saudi Investment Bank supports the GCC Board Directors Institute to raise the level of corporate governance and board effectiveness The Saudi Investment Bank has signed a one-year partnership agreement with the GCC Board Directors Institute to support the promotion...