The Saudi Investment Bank Announces its Interim Results as of 30/06/2012 (Six Months)

The Saudi Investment Bank announces its interim 2nd Quarter results as of 30/06/2012 (six months) as follows:

The second quarter net income was SAR 222 million compared to SAR 208 million for the same quarter last year with an increase of 7%, and compared to a net income of SAR 212 million for the previous quarter with an increase of 5%.
Operating income for the second quarter reached SAR 419 million compared to SAR 425 million for the same quarter last year, a decrease of 1%.
Net special commission income for the second quarter reached SAR 306 million compared to SAR 322 million for the same quarter last year, a decrease of 5%.
Net income for the six months period was SAR 435 million compared to SAR 416 million for the same period last year, an increase of 5%.
Earnings per share for the six month period reached SAR 0.79 compared to SAR 0.76 for the same period last year.
Operating income for the six month period reached SAR 878 million compared to SAR 839 million for the same period last year, an increase of 5%.
Net special commission income for the six month period reached SAR 597 million compared to SAR 639 million for the same period last year, a decrease of 7%.
Assets as of 30/06/2012 reached to SAR 53,464 million compared to SAR 50,569 million for the same period last year with an increase of 6%. Investments reached SAR 9,167 million compared to SAR 7,937 million for the same period last year with an increase of 15%. Loans and advances reached SAR 29,795 million compared to SAR 30,634 million for the same period last year with a decrease of 3%. Customers’ deposits reached SAR 38,080 million compared to SAR 36,084 million for the same period last year with an increase of 6%.
The increase in net income for the first half of 2012 compared to the same period last year was due to the increase in operating income.