SAIB profit rises 14% to SAR 503M in Q1 2025

The Saudi Investment Bank (SAIB) reported a net profit of SAR 503.3 million in Q1 2025, a 14% rise from SAR 442.4 million a year earlier.

The profit growth was driven by a 4.7% year-on-year (YoY) hike in the first-quarter net special commission income, mainly due to higher returns from financing and investments.

Total operating income also rose 5.5% YoY in Q1 2025, supported by stronger net commission income, foreign exchange gains, and gains from the derecognition of debt instruments measured at fair value through other comprehensive income (FVOCI).

These gains were partially capped by lower unrealized gains on instruments measured at fair value through profit or loss (FVTPL).

In addition, operating expenses declined 3.1% YoY for the same quarter. This was mainly due to lower provisions for expected credit and other losses, as well as reduced general and administrative expenses.

Net provisions for expected credit and other losses dropped 25.1% in Q1 2025, reflecting a decrease in credit loss provisions on loans and advances. However, these improvements were partially offset by higher salaries, employee-related costs, rent, premises expenses, and depreciation and amortization.

Sequentially, however, the three-month net profit fell by 1.3% from SAR 509.99 million in Q4 2024.

Shareholders’ equity, no minority interest and after excluding sukuk, increased to SAR 15.53 billion as of March 31, 2025, from SAR 14.56 billion in the year-earlier period.

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