The Saudi Investment Bank announces the interim financial results for the period ending on 30-09-2022 (six months) Element list Current quarter Similar quarter for previous year % Change Previous quarter % Change Gross Income from Special Commissions/Financing & Investments 1,103 708.6 55.66 887.5 24.28 Net Income from Special Commissions/Financing & Investments 757.9 595.1 27.36 671 12.95 Total operation Profit (Loss) 858.2 680.2 26.17 772.5 11.09 Net Profit (Loss) before Zakat and Income Tax 670.7 342.2 96 391 71.53 Net Profit (Loss) 550 274.3 100.51 320.7 71.5 Total Comprehensive Income 99 166.7 -40.61 -466.1 - Total Operating Expenses Before Provisions for Credit and Other Losses 364.3 302.6 20.39 339.4 7.34 Total Comprehensive Income -149 51 - 53.6 - Element list Current period Similar period for previous year % Change Gross Income from Special Commissions/Financing & Investments 2,720.5 2,081.5 30.7 Net Income from Special Commissions/Financing & Investments 2,016.5 1,724.4 16.94 Total operation Profit (Loss) 2,347.8 2,029.3 15.7 Net Profit (Loss) before Zakat and Income Tax 1,411.7 919.4 53.55 Net Profit (Loss) 1,157.6 775.6 49.25 Total Comprehensive Income -622.5 678.1 - Total Share Holders Equity (excluding Non-Controlling Interest) 13,293 14,688 -9.5 Assets 106,537 99,640 6.92 Investments 26,944 29,300 -8.04 Loans and Advances Portfolio (Financing & Investment) 64,665 58,290 10.94 Total Operating Expenses Before Provisions for Credit and Other Losses 1,048.4 909.6 15.26 Total Provisions (Reversals) for Expected Credit and Other Losses, net -57.7 225.6 - Customer deposits 67,605 60,861 11.08 Profit (Loss) per Share 1.1 0.75 All figures are in (Millions) Saudi Arabian 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 increased by 100.5% due to an increase in total operating income and a decrease in total operating expenses. Total operating income increased by 26.2% primarily due to an increase in net special commission income, fair value through profit and loss, and exchange income, which was offset by a decrease in gains on disposals of FVOCI debt securities, and fee income from banking services. Total operating expenses decreased by 39.1% primarily due to a decrease in provisions for credit and other losses, which was offset by an increase in other general and administrative expenses, salaries and employee-related expenses, and depreciation and amortization. The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is Net profit increased by 71.5% due to an increase in total operating income and a decrease in total operating expenses. Total operating income increased by 11.1% primarily due to an increase in net special commission income, exchange income and gains on disposals of FVOCI debt securities, which was offset by a decrease in fee income from banking services and fair value through profit and loss. Total operating expenses decreased by 45.2% primarily due to a decrease in provisions for credit and other losses, which was offset by an increase in salaries and employee-related expenses, other general and administrative expenses, depreciation and amortization and rent and premises related expenses. 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 49.3% due to an increase in total operating income and a decrease in total operating expenses. Total operating income increased by 15.7% primarily due to an increase in net special commission income, fair value through profit and loss, and exchange income, which was offset by a decrease in gains on disposals of FVOCI debt securities, other income, and fee income from banking services. Total operating expenses decreased by 12.7% primarily due to a decrease in provisions for credit and other losses, which was offset by an increase in other general and administrative expenses, salaries and employee-related expenses, rent and premises related expenses, and depreciation and amortization. Statement of the type of external auditor's report Unmodified opinion. Reclassification of Comparison Items Certain prior period amounts have been reclassified to conform to current period presentation. Additional Information Earnings per share for the nine month period ended September 30, 2022 and 2021 was SAR 1.10 and 0.75 respectively, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 1,000 million shares and 939 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 and bonus shares issued.