The Saudi Investment Bank announces the interim financial results for the period ending on 30-09-2024 (nine months) Element list Current quarter Similar quarter for previous year % Change Previous quarter % Change Total Income From Special Commission of Financing 1,770.3 1,471.7 20.289 1,650.3 7.271 Total Income From Special Commission of Investment 550.1 505.1 8.909 506.1 8.693 Net Income From Special Commission of Financing 696.8 598.4 16.443 716.5 -2.749 Net Income From Special Commission of Investment 212.2 291.3 -27.154 158.8 33.627 Total operation Profit (Loss) 1,077.9 1,007.6 6.976 1,022.5 5.418 Net Profit (Loss) before Zakat and Income Tax 598.7 536.8 11.531 562.3 6.473 Net Profit (Loss) 517.8 461.6 12.175 486.4 6.455 Total Comprehensive Income 811.1 259.5 212.562 511.6 58.541 Total Operating Expenses Before Provisions for Credit and Other Losses 446.8 407.8 9.563 422.6 5.726 Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net 65.7 87.4 -24.828 62.1 5.797 All figures are in (Millions) Saudi Arabian Riyals Element list Current period Similar period for previous year % Change Total Income From Special Commission of Financing 4,987.7 3,994.7 24.857 Total Income From Special Commission of Investment 1,548.1 1,388.7 11.478 Net Income From Special Commission of Financing 2,112.9 1,949.6 8.376 Net Income From Special Commission of Investment 517.6 652.8 -20.71 Total Operations Profit (Loss) 3,095.5 2,964 4.436 Net Profit (Loss) before Zakat and Income Tax 1,672.4 1,528.3 9.428 Net profit (Loss) 1,446.6 1,314.3 10.066 Total Comprehensive Income 1,834.3 1,199.9 52.871 Assets 151,250 129,826 16.502 Investments 40,284 32,754 22.989 Loans And Advances Portfolio (Financing And Investment) 94,936 80,201 18.372 Clients' deposits 98,094 85,455 14.79 Total Shareholders Equity (after Deducting Minority Equity) 15,335 13,824 10.93 Total Operating Expenses Before Provisions for Credit and Other Losses 1,297 1,242.5 4.386 Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net 209.8 248.3 -15.505 Profit (Loss) per Share 1.08 0.97 All figures are in (Millions) Saudi Arabian Riyals Element list Amount Percentage of the capital (%) Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - - Accumulated Losses - - All figures are in (Millions) Saudi Arabian Riyals 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 2.2% primarily due to increases 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 12.2% due to an increase in total operating income, as well as a decrease in provisions for credit and other losses.Total operating income increased by 7.0% primarily due to increases in fair value through statement of income, net special commission income and fee income from banking services, which was partially offset by decreases in exchange income.Total operating expenses increased by 3.5% primarily due to an increase in general and administrative expenses, salaries and employee-related expenses, and depreciation & amortization, which was partially offset by decrease in provisions for credit and other losses in addition to rent and premises related expenses. The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is Net provision of expected credit losses and other losses decreased by 24.8% primarily due to lower net charges for loans and advances. The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is Net special commission income increased by 3.9% primarily due to increases in gross financing and investment returns. The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is Net profit increased by 6.5% due to an increase in total operating income.Total operating income increased by 5.4% primarily due to increase in net special commission income, fair value through statement of income and fee income from banking services, despite marginal decreases in exchange income.Total operating expenses increased by 5.7% primarily due to increase in other general and administrative expenses, provisions for credit and other losses, salaries and employee-related expenses as well as rent and premises related expenses. The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is Net provision of expected credit losses and other losses increased by 5.8% mainly due to the growth in financing and investments portfolios. The reason of the increase (decrease) in special commission income during the current period compared to the same period of the last year is Net special commission income increased by 1.1% primarily due to increases in gross financing and investment returns. 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 10.1% due to an increase in total operating income, as well as a decrease in provisions for credit and other losses.Total operating income increased by 4.4% primarily due to increases in fair value through statement of income, net special commission income and fee income from banking services, despite partial decrease in gains on disposals of FVOCI debt securities and exchange income.Total operating expenses increased by 1.1% primarily due to increase in general and administrative expenses, salaries and employee-related expenses and depreciation & amortization, despite decreases in provisions for credit and other losses as well as decrease in rent and premises related expenses. The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current period compared to the same period of the last year is Net provision of expected credit losses and other losses decreased by 15.5% primarily due to lower net charges for loans and advances. Statement of the type of external auditor's report Unmodified Conclusion Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) N/A 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, 2024 and 2023 was SAR 1.08 and 0.97 respectively, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 1,249 million shares and 1,250 million shares respectively representing the weighted average of the issued and outstanding shares after giving effect of the issuance of 250 million bonus shares and the purchase of 1.7 million treasury shares.The weighted average number of outstanding shares have been retrospectively adjusted.