SAIB profit jumps 17% to SAR 1.76B in 2023; Q4 at SAR 447.3M

04/02/2024 Argaam Exclusive

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The Saudi Investment Bank (SAIB) reported a net profit of SAR 1.76 billion in 2023, a 17% rise from SAR 1.50 billion a year earlier.

Financials (M)

Item	2022	2023	Change‬
Net Special Commission Income	2,844.88	3,417.22	20.1 %
Operating Income	3,277.89	3,966.58	21.0 %
Total Provisions	(191.57)	(358.66)	(87.2 %)
Net Income	1,507.86	1,761.61	16.8 %
Average Shares	1,250.00	1,250.00	-
EPS (Riyals)	1.21	1.41	16.8 %
EPS Diluted (Riyals)	1.09	1.28	16.8 %

Total operating income grew by 21% year-on-year (YoY) as net special commission income rose due to an increase in net financing and investment commission income by 20% YoY. In addition, the bank noted higher fair value through profit and loss.

gains on disposals of FVOCI debt securities, exchange income, and fee income from banking services.

However, total operating expenses rose by 23% YoY on higher provisions for credit and other losses, as well as a rise in other general and administrative expenses, depreciation and amortization, rent and premises related expenses, and salaries and employee-related expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Net Special Commission Income	825.62	814.80	(1.3 %)
Operating Income	930.08	1,002.58	7.8 %
Debt Provisions	(249.22)	(110.32)	55.7 %
Net Income	350.22	447.27	27.7 %
Average Shares	1,250.00	1,250.00	-
EPS (Riyals)	0.28	0.36	27.7 %
EPS Diluted (Riyal)	0.21	0.30	41.8 %

Item	Q3 2023	Q4 2023	Change‬
Net Special Commission Income	889.74	814.80	(8.4 %)
Operating Income	1,007.62	1,002.58	(0.5 %)
Debt Provisions	(87.43)	(110.32)	(26.2 %)
Net Income	461.64	447.27	(3.1 %)
Average Shares	1,250.00	1,250.00	-
EPS (Riyals)	0.37	0.36	(3.1 %)
EPS Diluted (Riyal)	0.36	0.30	(14.6 %)

Balance Sheet (B)

Item	2022	2023	Change‬
Assets	109.07	129.98	19.2 %
Customer Deposits	69.58	83.23	19.6 %
Loan	68.88	80.75	17.2 %

In Q4 2023, net profit was 28% higher at SAR 447.3 million, compared with SAR 350.2 million a year earlier.

Sequentially, SAIB’s Q3 net profit fell 3.1% from SAR 461.64 million.

Shareholders’ equity, no minority interest and after excluding sukuk, increased to SAR 14.52 billion as of Dec. 31, 2023, from SAR 13.57 billion in the year-earlier period.

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
Q1 2014	354.68	4.4 %	533.35	5.5 %	(141.00)	(370.0 %)
Q2 2014	371.05	8.0 %	550.75	6.2 %	(21.00)	30.0 %
Q3 2014	389.06	12.2 %	576.12	14.9 %	(14.00)	53.3 %
Q4 2014	424.77	26.7 %	647.00	31.7 %	(45.30)	(202.0 %)
2014	1,539.56	12.8 %	2,307.23	14.4 %	(221.30)	(110.8 %)
Q1 2015	430.57	21.4 %	652.24	22.3 %	(23.00)	83.7 %
Q2 2015	430.97	16.1 %	640.48	16.3 %	(46.00)	(119.0 %)
Q3 2015	441.57	13.5 %	603.17	4.7 %	(22.00)	(57.1 %)
Q4 2015	428.08	0.8 %	615.17	(4.9 %)	(27.00)	40.4 %
2015	1,731.19	12.4 %	2,511.06	8.8 %	(118.00)	46.7 %
Q1 2016	412.80	(4.1 %)	590.74	(9.4 %)	(118.00)	(413.0 %)
Q2 2016	420.70	(2.4 %)	612.19	(4.4 %)	(58.00)	(26.1 %)
Q3 2016	460.66	4.3 %	633.14	5.0 %	(30.00)	(36.4 %)
Q4 2016	377.90	(11.7 %)	569.79	(7.4 %)	(40.00)	(48.1 %)
2016	1,672.06	(3.4 %)	2,405.87	(4.2 %)	(246.00)	(108.5 %)
Q1 2017	463.02	12.2 %	624.96	5.8 %	(45.00)	61.9 %
Q2 2017	486.44	15.6 %	655.84	7.1 %	(74.00)	(27.6 %)
Q3 2017	508.96	10.5 %	701.64	10.8 %	(63.00)	(110.0 %)
Q4 2017	583.65	54.4 %	677.44	18.9 %	(31.00)	22.5 %
2017	2,042.06	22.1 %	2,659.88	10.6 %	(213.00)	13.4 %
Q1 2018	564.16	21.8 %	686.32	9.8 %	(88.55)	(96.8 %)
Q2 2018	573.40	17.9 %	671.08	2.3 %	(64.21)	13.2 %
Q3 2018	596.51	17.2 %	700.59	(0.1 %)	(90.43)	(43.5 %)
Q4 2018	553.66	(5.1 %)	654.73	(3.4 %)	(3.79)	87.8 %
2018	2,287.72	12.0 %	2,712.73	2.0 %	(246.97)	(15.9 %)
Q1 2019	581.08	3.0 %	702.19	2.3 %	(77.22)	12.8 %
Q2 2019	560.00	(2.3 %)	663.10	(1.2 %)	(751.00)	(1,069.6 %)
Q3 2019	566.13	(5.1 %)	739.35	5.5 %	(66.15)	26.9 %
Q4 2019	570.69	3.1 %	713.59	9.0 %	(448.28)	(11,724.7 %)
2019	2,277.89	(0.4 %)	2,818.23	3.9 %	(1,342.64)	(443.6 %)
Q1 2020	582.71	0.3 %	717.72	2.2 %	(224.98)	(191.3 %)
Q2 2020	609.21	8.8 %	713.29	7.6 %	(98.70)	86.9 %
Q3 2020	575.46	1.6 %	724.92	(2.0 %)	(57.30)	13.4 %
Q4 2020	554.27	(2.9 %)	690.20	(3.3 %)	(68.45)	84.7 %
2020	2,321.65	1.9 %	2,846.13	1.0 %	(449.41)	66.5 %
Q1 2021	542.96	(6.8 %)	635.08	(11.5 %)	(64.84)	71.2 %
Q2 2021	584.55	(4.0 %)	716.68	0.5 %	(109.73)	(11.2 %)
Q3 2021	595.05	3.4 %	680.24	(6.2 %)	(51.03)	10.9 %
Q4 2021	627.98	13.3 %	723.70	4.9 %	(45.46)	33.6 %
2021	2,352.40	1.3 %	2,753.05	(3.3 %)	(271.07)	39.7 %
Q1 2022	589.16	8.5 %	717.14	12.9 %	(37.76)	41.8 %
Q2 2022	672.21	15.0 %	772.46	7.8 %	(53.61)	51.1 %
Q3 2022	757.88	27.4 %	858.21	26.2 %	149.02	392.0 %
Q4 2022	825.62	31.5 %	930.08	28.5 %	(249.22)	(448.2 %)
2022	2,844.88	20.9 %	3,277.89	19.1 %	(191.57)	29.3 %
Q1 2023	845.01	43.4 %	962.93	34.3 %	(81.35)	(115.4 %)
Q2 2023	867.69	29.1 %	993.48	28.6 %	(79.56)	(48.4 %)
Q3 2023	889.74	17.4 %	1,007.62	17.4 %	(87.43)	(158.7 %)
Q4 2023	814.80	(1.3 %)	1,002.58	7.8 %	(110.32)	55.7 %
2023	3,417.22	20.1 %	3,966.58	21.0 %	(358.66)	(87.2 %)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
2014	1,539.56	12.8 %	2,307.23	14.4 %	(221.30)	(110.8 %)
2015	1,731.19	12.4 %	2,511.06	8.8 %	(118.00)	46.7 %
2016	1,672.06	(3.4 %)	2,405.87	(4.2 %)	(246.00)	(108.5 %)
2017	2,042.06	22.1 %	2,659.88	10.6 %	(213.00)	13.4 %
2018	2,287.72	12.0 %	2,712.73	2.0 %	(246.97)	(15.9 %)
2019	2,277.89	(0.4 %)	2,818.23	3.9 %	(1,342.64)	(443.6 %)
2020	2,321.65	1.9 %	2,846.13	1.0 %	(449.41)	66.5 %
2021	2,352.40	1.3 %	2,753.05	(3.3 %)	(271.07)	39.7 %
2022	2,844.88	20.9 %	3,277.89	19.1 %	(191.57)	29.3 %
2023	3,417.22	20.1 %	3,966.58	21.0 %	(358.66)	(87.2 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	337.47	7.4 %	0.27	223.95	113.52	0.09
Q2 2014	352.96	10.2 %	0.28	-	352.96	0.28
Q3 2014	371.17	14.1 %	0.30	-	371.17	0.30
Q4 2014	374.87	14.7 %	0.30	0.00	374.87	0.30
2014	1,436.48	11.6 %	1.15	223.95	1,212.53	0.97
Q1 2015	366.70	8.7 %	0.29	-	366.70	0.29
Q2 2015	382.57	8.4 %	0.31	-	382.57	0.31
Q3 2015	351.43	(5.3 %)	0.28	-	351.43	0.28
Q4 2015	227.96	(39.2 %)	0.18	-	227.96	0.18
2015	1,328.66	(7.5 %)	1.06	-	1,328.66	1.06
Q1 2016	210.00	(42.7 %)	0.17	-	210.00	0.17
Q2 2016	321.37	(16.0 %)	0.26	-	321.37	0.26
Q3 2016	219.43	(37.6 %)	0.18	-	219.43	0.18
Q4 2016	302.17	32.6 %	0.24	-	302.17	0.24
2016	1,052.96	(20.8 %)	0.84	-	1,052.96	0.84
Q1 2017	344.94	64.3 %	0.28	-	344.94	0.28
Q2 2017	355.65	10.7 %	0.28	-	355.65	0.28
Q3 2017	358.35	63.3 %	0.29	-	358.35	0.29
Q4 2017	351.86	16.4 %	0.28	-	351.86	0.28
2017	1,410.80	34.0 %	1.13	-	1,410.80	1.13
Q1 2018	346.01	0.3 %	0.28	-	346.01	0.28
Q2 2018	336.78	(5.3 %)	0.27	-	336.78	0.27
Q3 2018	345.73	(3.5 %)	0.28	-	345.73	0.28
Q4 2018	(452.62)	(228.6 %)	(0.36)	(750.51)	297.89	0.24
2018	575.90	(59.2 %)	0.46	(750.51)	1,326.40	1.06
Q1 2019	281.45	(18.7 %)	0.23	-	281.45	0.23
Q2 2019	(284.74)	(184.5 %)	(0.23)	-	(284.74)	(0.23)
Q3 2019	311.93	(9.8 %)	0.25	-	311.93	0.25
Q4 2019	(69.18)	84.7 %	(0.06)	-	(69.18)	(0.06)
2019	239.46	(58.4 %)	0.19	-	239.46	0.19
Q1 2020	150.71	(46.5 %)	0.12	-	150.71	0.12
Q2 2020	262.26	192.1 %	0.21	-	262.26	0.21
Q3 2020	301.37	(3.4 %)	0.24	19.40	281.97	0.23
Q4 2020	265.21	483.4 %	0.21	-	265.21	0.21
2020	979.56	309.1 %	0.78	19.40	960.16	0.77
Q1 2021	213.50	41.7 %	0.17	-	213.50	0.17
Q2 2021	287.77	9.7 %	0.23	-	287.77	0.23
Q3 2021	274.35	(9.0 %)	0.22	-	274.35	0.22
Q4 2021	286.05	7.9 %	0.23	-	286.05	0.23
2021	1,061.66	8.4 %	0.85	-	1,061.66	0.85
Q1 2022	287.02	34.4 %	0.23	-	287.02	0.23
Q2 2022	320.65	11.4 %	0.26	-	320.65	0.26
Q3 2022	549.97	100.5 %	0.44	-	549.97	0.44
Q4 2022	350.22	22.4 %	0.28	-	350.22	0.28
2022	1,507.86	42.0 %	1.21	-	1,507.86	1.21
Q1 2023	408.91	42.5 %	0.33	-	408.91	0.33
Q2 2023	443.79	38.4 %	0.36	-	443.79	0.36
Q3 2023	461.64	(16.1 %)	0.37	-	461.64	0.37
Q4 2023	447.27	27.7 %	0.36	-	447.27	0.36
2023	1,761.61	16.8 %	1.41	-	1,761.61	1.41

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	1,436.48	11.6 %	1.15	223.95	1,212.53	0.97
2015	1,328.66	(7.5 %)	1.06	-	1,328.66	1.06
2016	1,052.96	(20.8 %)	0.84	-	1,052.96	0.84
2017	1,410.80	34.0 %	1.13	-	1,410.80	1.13
2018	575.90	(59.2 %)	0.46	(750.51)	1,326.40	1.06
2019	239.46	(58.4 %)	0.19	-	239.46	0.19
2020	979.56	309.1 %	0.78	19.40	960.16	0.77
2021	1,061.66	8.4 %	0.85	-	1,061.66	0.85
2022	1,507.86	42.0 %	1.21	-	1,507.86	1.21
2023	1,761.61	16.8 %	1.41	-	1,761.61	1.41

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
Q1 2014	1.79 %	12.91 %	67.50 %
Q2 2014	1.74 %	13.15 %	67.78 %
Q3 2014	1.72 %	12.70 %	67.40 %
Q4 2014	1.65 %	13.00 %	66.73 %
2014	1.65 %	13.00 %	66.73 %
Q1 2015	1.69 %	12.78 %	66.59 %
Q2 2015	1.66 %	13.05 %	66.59 %
Q3 2015	1.63 %	12.38 %	67.95 %
Q4 2015	1.42 %	11.12 %	68.94 %
2015	1.42 %	11.12 %	68.94 %
Q1 2016	1.25 %	9.83 %	69.95 %
Q2 2016	1.18 %	9.38 %	70.34 %
Q3 2016	1.05 %	8.12 %	70.26 %
Q4 2016	1.13 %	8.47 %	69.50 %
2016	1.13 %	8.47 %	69.50 %
Q1 2017	1.24 %	9.49 %	70.58 %
Q2 2017	1.27 %	9.87 %	71.99 %
Q3 2017	1.40 %	10.71 %	71.95 %
Q4 2017	1.51 %	10.72 %	76.77 %
2017	1.51 %	10.72 %	76.77 %
Q1 2018	1.51 %	10.82 %	78.76 %
Q2 2018	1.40 %	10.81 %	81.50 %
Q3 2018	1.42 %	10.75 %	84.73 %
Q4 2018	0.61 %	4.59 %	84.33 %
2018	0.61 %	4.59 %	84.33 %
Q1 2019	0.55 %	4.08 %	84.46 %
Q2 2019	(0.11 %)	(0.91 %)	84.22 %
Q3 2019	(0.15 %)	(1.18 %)	81.93 %
Q4 2019	0.24 %	2.03 %	80.83 %
2019	0.24 %	2.03 %	80.83 %
Q1 2020	0.11 %	0.96 %	80.44 %
Q2 2020	0.65 %	5.52 %	80.75 %
Q3 2020	0.66 %	5.21 %	81.48 %
Q4 2020	0.98 %	7.73 %	81.57 %
2020	0.98 %	7.73 %	81.57 %
Q1 2021	1.06 %	8.73 %	82.57 %
Q2 2021	1.05 %	8.29 %	81.58 %
Q3 2021	1.05 %	7.57 %	83.64 %
Q4 2021	1.05 %	7.55 %	85.30 %
2021	1.05 %	7.55 %	85.45 %
Q1 2022	1.10 %	8.29 %	84.46 %
Q2 2022	1.12 %	8.64 %	85.86 %
Q3 2022	1.40 %	10.32 %	86.19 %
Q4 2022	1.43 %	10.63 %	86.79 %
2022	1.43 %	10.63 %	86.79 %
Q1 2023	1.41 %	11.61 %	88.00 %
Q2 2023	1.50 %	12.75 %	88.02 %
Q3 2023	1.41 %	12.28 %	88.03 %
Q4 2023	1.47 %	12.54 %	86.15 %
2023	1.47 %	12.54 %	86.15 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
2014	1.65 %	13.00 %	66.73 %
2015	1.42 %	11.12 %	68.94 %
2016	1.13 %	8.47 %	69.50 %
2017	1.51 %	10.72 %	76.77 %
2018	0.61 %	4.59 %	84.33 %
2019	0.24 %	2.03 %	80.83 %
2020	0.98 %	7.73 %	81.57 %
2021	1.05 %	7.55 %	85.45 %
2022	1.43 %	10.63 %	86.79 %
2023	1.47 %	12.54 %	86.15 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
Q1 2014	82.86	31.3 %	62.14	41.1 %	52.24	41.2 %
Q2 2014	88.06	32.1 %	67.73	39.5 %	54.77	35.5 %
Q3 2014	90.55	27.9 %	69.68	34.4 %	57.56	34.7 %
Q4 2014	93.63	16.3 %	70.73	24.0 %	57.47	20.8 %
Q1 2015	91.06	9.9 %	69.63	12.0 %	57.32	9.7 %
Q2 2015	92.51	5.1 %	70.48	4.1 %	57.17	4.4 %
Q3 2015	90.27	(0.3 %)	66.82	(4.1 %)	58.08	0.9 %
Q4 2015	93.58	(0.1 %)	70.52	(0.3 %)	60.27	4.9 %
Q1 2016	96.39	5.9 %	70.69	1.5 %	61.62	7.5 %
Q2 2016	95.95	3.7 %	68.09	(3.4 %)	61.25	7.1 %
Q3 2016	96.18	6.5 %	66.45	(0.6 %)	61.29	5.5 %
Q4 2016	93.05	(0.6 %)	65.64	(6.9 %)	60.25	0.0 %
Q1 2017	95.18	(1.3 %)	64.44	(8.8 %)	60.29	(2.2 %)
Q2 2017	96.88	1.0 %	66.56	(2.2 %)	61.63	0.6 %
Q3 2017	98.33	2.2 %	71.06	6.9 %	61.07	(0.4 %)
Q4 2017	93.80	0.8 %	66.94	2.0 %	59.59	(1.1 %)
Q1 2018	91.53	(3.8 %)	61.03	(5.3 %)	57.90	(4.0 %)
Q2 2018	101.95	5.2 %	71.30	7.1 %	59.33	(3.7 %)
Q3 2018	95.45	(2.9 %)	64.02	(9.9 %)	59.54	(2.5 %)
Q4 2018	96.07	2.4 %	63.69	(4.9 %)	59.41	(0.3 %)
Q1 2019	94.83	3.6 %	63.82	4.6 %	58.18	0.5 %
Q2 2019	97.96	(3.9 %)	66.84	(6.3 %)	56.93	(4.1 %)
Q3 2019	96.30	0.9 %	64.96	1.5 %	57.63	(3.2 %)
Q4 2019	100.81	4.9 %	69.06	8.4 %	57.11	(3.9 %)
Q1 2020	100.80	6.3 %	67.64	6.0 %	59.88	2.9 %
Q2 2020	104.62	6.8 %	64.24	(3.9 %)	58.60	2.9 %
Q3 2020	98.34	2.1 %	59.84	(7.9 %)	57.72	0.2 %
Q4 2020	99.88	(0.9 %)	60.14	(12.9 %)	55.07	(3.6 %)
Q1 2021	96.27	(4.5 %)	56.12	(17.0 %)	55.42	(7.4 %)
Q2 2021	98.41	(5.9 %)	59.81	(6.9 %)	56.30	(3.9 %)
Q3 2021	99.64	1.3 %	60.89	1.8 %	58.29	1.0 %
Q4 2021	101.62	1.7 %	61.48	2.2 %	57.80	4.9 %
Q1 2022	109.26	13.5 %	68.35	21.8 %	59.94	8.1 %
Q2 2022	110.80	12.6 %	67.46	12.8 %	62.26	10.6 %
Q3 2022	106.54	6.9 %	67.60	11.0 %	64.67	10.9 %
Q4 2022	109.07	7.3 %	69.58	13.2 %	68.88	19.2 %
Q1 2023	121.90	11.6 %	79.22	15.9 %	73.63	22.8 %
Q2 2023	123.59	11.5 %	82.66	22.5 %	77.30	24.2 %
Q3 2023	129.83	21.9 %	85.45	26.4 %	80.20	24.0 %
Q4 2023	129.98	19.2 %	83.23	19.6 %	80.75	17.2 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
3m 2014	82.86	31.3 %	62.14	41.1 %	52.24	41.2 %
6m 2014	88.06	32.1 %	67.73	39.5 %	54.77	35.5 %
9m 2014	90.55	27.9 %	69.68	34.4 %	57.56	34.7 %
12m 2014	93.63	16.3 %	70.73	24.0 %	57.47	20.8 %
3m 2015	91.06	9.9 %	69.63	12.0 %	57.32	9.7 %
6m 2015	92.51	5.1 %	70.48	4.1 %	57.17	4.4 %
9m 2015	90.27	(0.3 %)	66.82	(4.1 %)	58.08	0.9 %
12m 2015	93.58	(0.1 %)	70.52	(0.3 %)	60.27	4.9 %
3m 2016	96.39	5.9 %	70.69	1.5 %	61.62	7.5 %
6m 2016	95.95	3.7 %	68.09	(3.4 %)	61.25	7.1 %
9m 2016	96.18	6.5 %	66.45	(0.6 %)	61.29	5.5 %
12m 2016	93.05	(0.6 %)	65.64	(6.9 %)	60.25	0.0 %
3m 2017	95.18	(1.3 %)	64.44	(8.8 %)	60.29	(2.2 %)
6m 2017	96.88	1.0 %	66.56	(2.2 %)	61.63	0.6 %
9m 2017	98.33	2.2 %	71.06	6.9 %	61.07	(0.4 %)
12m 2017	93.80	0.8 %	66.94	2.0 %	59.59	(1.1 %)
3m 2018	91.53	(3.8 %)	61.03	(5.3 %)	57.90	(4.0 %)
6m 2018	101.95	5.2 %	71.30	7.1 %	59.33	(3.7 %)
9m 2018	95.45	(2.9 %)	64.02	(9.9 %)	59.54	(2.5 %)
12m 2018	96.07	2.4 %	63.69	(4.9 %)	59.41	(0.3 %)
3m 2019	94.83	3.6 %	63.82	4.6 %	58.18	0.5 %
6m 2019	97.96	(3.9 %)	66.84	(6.3 %)	56.93	(4.1 %)
9m 2019	96.30	0.9 %	64.96	1.5 %	57.63	(3.2 %)
12m 2019	100.81	4.9 %	69.06	8.4 %	57.11	(3.9 %)
3m 2020	100.80	6.3 %	67.64	6.0 %	59.88	2.9 %
6m 2020	104.62	6.8 %	64.24	(3.9 %)	58.60	2.9 %
9m 2020	98.34	2.1 %	59.84	(7.9 %)	57.72	0.2 %
12m 2020	99.88	(0.9 %)	60.14	(12.9 %)	55.07	(3.6 %)
3m 2021	96.27	(4.5 %)	56.12	(17.0 %)	55.42	(7.4 %)
6m 2021	98.41	(5.9 %)	59.81	(6.9 %)	56.30	(3.9 %)
9m 2021	99.64	1.3 %	60.89	1.8 %	58.29	1.0 %
12m 2021	101.62	1.7 %	61.48	2.2 %	57.80	4.9 %
3m 2022	109.26	13.5 %	68.35	21.8 %	59.94	8.1 %
6m 2022	110.80	12.6 %	67.46	12.8 %	62.26	10.6 %
9m 2022	106.54	6.9 %	67.60	11.0 %	64.67	10.9 %
12m 2022	109.07	7.3 %	69.58	13.2 %	68.88	19.2 %
3m 2023	121.90	11.6 %	79.22	15.9 %	73.63	22.8 %
6m 2023	123.59	11.5 %	82.66	22.5 %	77.30	24.2 %
9m 2023	129.83	21.9 %	85.45	26.4 %	80.20	24.0 %
12m 2023	129.98	19.2 %	83.23	19.6 %	80.75	17.2 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
2014	93.63	16.3 %	70.73	24.0 %	57.47	20.8 %
2015	93.58	(0.1 %)	70.52	(0.3 %)	60.27	4.9 %
2016	93.05	(0.6 %)	65.64	(6.9 %)	60.25	0.0 %
2017	93.80	0.8 %	66.94	2.0 %	59.59	(1.1 %)
2018	96.07	2.4 %	63.69	(4.9 %)	59.41	(0.3 %)
2019	100.81	4.9 %	69.06	8.4 %	57.11	(3.9 %)
2020	99.88	(0.9 %)	60.14	(12.9 %)	55.07	(3.6 %)
2021	101.62	1.7 %	61.48	2.2 %	57.80	4.9 %
2022	109.07	7.3 %	69.58	13.2 %	68.88	19.2 %
2023	129.98	19.2 %	83.23	19.6 %	80.75	17.2 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
Q1 2014	75.00 %	63.04 %	84.06 %
Q2 2014	76.91 %	62.19 %	80.86 %
Q3 2014	76.96 %	63.57 %	82.61 %
Q4 2014	75.55 %	61.38 %	81.25 %
Q1 2015	76.46 %	62.94 %	82.32 %
Q2 2015	76.18 %	61.80 %	81.12 %
Q3 2015	74.02 %	64.33 %	86.91 %
Q4 2015	75.36 %	64.40 %	85.47 %
Q1 2016	73.33 %	63.92 %	87.17 %
Q2 2016	70.96 %	63.84 %	89.96 %
Q3 2016	69.08 %	63.72 %	92.24 %
Q4 2016	70.55 %	64.75 %	91.79 %
Q1 2017	67.70 %	63.35 %	93.56 %
Q2 2017	68.70 %	63.61 %	92.59 %
Q3 2017	72.27 %	62.10 %	85.93 %
Q4 2017	71.37 %	63.53 %	89.01 %
Q1 2018	66.68 %	63.25 %	94.86 %
Q2 2018	69.93 %	58.19 %	83.21 %
Q3 2018	67.07 %	62.38 %	93.01 %
Q4 2018	66.30 %	61.84 %	93.28 %
Q1 2019	67.30 %	61.35 %	91.15 %
Q2 2019	68.23 %	58.11 %	85.16 %
Q3 2019	67.46 %	59.84 %	88.71 %
Q4 2019	68.50 %	56.65 %	82.70 %
Q1 2020	67.10 %	59.40 %	88.52 %
Q2 2020	61.41 %	56.02 %	91.22 %
Q3 2020	60.85 %	58.70 %	96.46 %
Q4 2020	60.21 %	55.14 %	91.57 %
Q1 2021	58.30 %	57.57 %	98.75 %
Q2 2021	60.78 %	57.21 %	94.12 %
Q3 2021	61.11 %	58.50 %	95.73 %
Q4 2021	60.51 %	56.88 %	94.00 %
Q1 2022	62.56 %	54.86 %	87.69 %
Q2 2022	60.88 %	56.19 %	92.30 %
Q3 2022	63.46 %	60.70 %	95.65 %
Q4 2022	63.79 %	63.15 %	99.00 %
Q1 2023	64.98 %	60.40 %	92.95 %
Q2 2023	66.88 %	62.55 %	93.52 %
Q3 2023	65.82 %	61.78 %	93.85 %
Q4 2023	64.03 %	62.12 %	97.02 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
2014	75.55 %	61.38 %	81.25 %
2015	75.36 %	64.40 %	85.47 %
2016	70.55 %	64.75 %	91.79 %
2017	71.37 %	63.53 %	89.01 %
2018	66.30 %	61.84 %	93.28 %
2019	68.50 %	56.65 %	82.70 %
2020	60.21 %	55.14 %	91.57 %
2021	60.51 %	56.88 %	94.00 %
2022	63.79 %	63.15 %	99.00 %
2023	64.03 %	62.12 %	97.02 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2014	1,250.00	1.05	0.87	-	8.78
Q2 2014	1,250.00	1.07	0.89	-	8.76
Q3 2014	1,250.00	1.11	0.93	-	9.58
Q4 2014	1,250.00	1.15	0.97	-	9.48
Q1 2015	1,250.00	1.17	1.17	-	9.57
Q2 2015	1,250.00	1.20	1.20	-	9.57
Q3 2015	1,250.00	1.18	1.18	-	9.50
Q4 2015	1,250.00	1.06	1.06	-	9.63
Q1 2016	1,250.00	0.94	0.94	-	9.49
Q2 2016	1,250.00	0.89	0.89	-	9.37
Q3 2016	1,250.00	0.78	0.78	-	9.79
Q4 2016	1,250.00	0.84	0.84	-	10.27
Q1 2017	1,250.00	0.95	0.95	-	10.53
Q2 2017	1,250.00	0.98	0.98	-	10.43
Q3 2017	1,250.00	1.09	1.09	-	10.55
Q4 2017	1,250.00	1.13	1.13	-	10.80
Q1 2018	1,250.00	1.13	1.13	-	10.35
Q2 2018	1,250.00	1.11	1.11	-	10.18
Q3 2018	1,250.00	1.10	1.10	-	10.00
Q4 2018	1,250.00	0.46	1.06	-	9.30
Q1 2019	1,250.00	0.41	1.01	-	9.68
Q2 2019	1,250.00	(0.09)	0.51	-	9.20
Q3 2019	1,250.00	(0.12)	0.49	-	9.57
Q4 2019	1,250.00	0.19	0.19	-	9.61
Q1 2020	1,250.00	0.09	0.09	-	8.39
Q2 2020	1,250.00	0.52	0.52	-	9.79
Q3 2020	1,250.00	0.52	0.50	-	10.25
Q4 2020	1,250.00	0.78	0.77	-	10.66
Q1 2021	1,250.00	0.83	0.82	-	10.71
Q2 2021	1,250.00	0.85	0.84	-	10.81
Q3 2021	1,250.00	0.83	0.83	-	11.75
Q4 2021	1,250.00	0.85	0.85	-	11.84
Q1 2022	1,250.00	0.91	0.91	-	11.21
Q2 2022	1,250.00	0.93	0.93	-	10.81
Q3 2022	1,250.00	1.15	1.15	-	10.63
Q4 2022	1,250.00	1.21	1.21	1.09	10.86
Q1 2023	1,250.00	1.30	1.30	1.19	11.25
Q2 2023	1,250.00	1.40	1.40	1.26	11.18
Q3 2023	1,250.00	1.33	1.33	1.19	11.06
Q4 2023	1,250.00	1.41	1.41	1.28	11.62

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2014	1,250.00	1.15	0.97	-	9.48
2015	1,250.00	1.06	1.06	-	9.63
2016	1,250.00	0.84	0.84	-	10.27
2017	1,250.00	1.13	1.13	-	10.80
2018	1,250.00	0.46	1.06	-	9.30
2019	1,250.00	0.19	0.19	-	9.61
2020	1,250.00	0.78	0.77	-	10.66
2021	1,250.00	0.85	0.85	-	11.84
2022	1,250.00	1.21	1.21	1.09	10.86
2023	1,250.00	1.41	1.41	1.28	11.62

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	13.94	16.81	1.66
Q2 2014	12.42	14.91	1.52
Q3 2014	14.38	17.14	1.67
Q4 2014	11.70	13.86	1.42
Q1 2015	10.61	10.61	1.30
Q2 2015	9.86	9.86	1.23
Q3 2015	8.91	8.91	1.11
Q4 2015	8.41	8.41	0.93
Q1 2016	8.70	8.70	0.86
Q2 2016	8.00	8.00	0.76
Q3 2016	7.29	7.29	0.58
Q4 2016	10.08	10.08	0.83
Q1 2017	8.18	8.18	0.74
Q2 2017	7.99	7.99	0.75
Q3 2017	8.28	8.28	0.85
Q4 2017	8.02	8.02	0.84
Q1 2018	8.23	8.23	0.90
Q2 2018	9.75	9.75	1.07
Q3 2018	10.05	10.05	1.11
Q4 2018	22.31	9.69	1.11
Q1 2019	27.50	11.14	1.16
Q2 2019	NEG	22.45	1.25
Q3 2019	NEG	19.50	0.99
Q4 2019	More than 100	More than 100	1.13
Q1 2020	More than 100	More than 100	0.89
Q2 2020	14.92	14.92	0.80
Q3 2020	18.38	18.95	0.93
Q4 2020	12.26	12.50	0.90
Q1 2021	11.92	12.15	0.93
Q2 2021	11.92	12.14	0.94
Q3 2021	12.23	12.23	0.87
Q4 2021	13.83	13.83	0.99
Q1 2022	16.00	16.00	1.30
Q2 2022	16.69	16.69	1.44
Q3 2022	11.83	11.83	1.28
Q4 2022	12.70	12.70	1.28
Q1 2023	11.16	11.16	1.18
Q2 2023	10.87	10.87	1.22
Q3 2023	10.66	10.66	1.14
Q4 2023	10.01	10.01	1.10

Period	P/E	Adjusted P/E	Price/book
2014	11.70	13.86	1.42
2015	8.41	8.41	0.93
2016	10.08	10.08	0.83
2017	8.02	8.02	0.84
2018	22.31	9.69	1.11
2019	More than 100	More than 100	1.13
2020	12.26	12.50	0.90
2021	13.83	13.83	0.99
2022	12.70	12.70	1.28
2023	10.01	10.01	1.10

Business Segments (Million)

Compared With The

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Brokerage and Asset Management	Joint Projects	Others
Q1 2014	186.89	196.13	342.87	31.42	-	-
Q2 2014	218.89	198.35	98.34	35.18	-	-
Q3 2014	222.61	196.14	123.01	34.37	-	-
Q4 2014	294.50	237.12	84.60	30.78	-	-
Q1 2015	221.00	259.25	140.23	38.90	2.14	(9.28)
Q2 2015	185.47	306.77	131.29	34.83	(6.63)	(11.25)
Q3 2015	261.74	220.97	230.40	24.55	(1.83)	(132.66)
Q4 2015	240.10	172.33	260.22	22.59	(4.09)	(75.97)
Q1 2016	234.59	154.29	229.81	22.08	(10.90)	(39.12)
Q2 2016	309.09	306.12	57.15	21.02	(13.03)	(68.16)
Q3 2016	275.32	323.22	131.85	18.63	(15.62)	(100.27)
Q4 2016	183.70	330.18	101.96	26.32	(15.41)	(56.96)
Q1 2017	262.95	282.64	97.03	27.53	-	(45.19)
Q2 2017	274.68	266.84	160.26	17.35	-	(63.28)
Q3 2017	415.47	269.68	33.74	18.20	-	(35.44)
Q4 2017	218.31	251.89	171.57	23.20	-	12.48
Q1 2018	256.17	286.34	172.58	26.04	-	(54.81)
Q2 2018	283.77	296.45	222.21	21.98	-	(153.32)
Q3 2018	293.95	217.68	125.53	17.18	-	46.25
Q4 2018	423.85	323.97	(92.49)	17.57	-	(18.16)
Q1 2019	202.88	328.29	201.57	17.64	-	(48.19)
Q2 2019	187.95	318.05	171.84	21.55	-	(36.28)
Q3 2019	196.85	355.42	209.49	38.99	-	(61.39)
Q4 2019	175.63	360.63	143.54	27.14	-	6.65
Q1 2020	208.37	325.20	223.11	29.03	-	(67.98)
Q2 2020	310.69	260.25	153.19	33.87	-	(44.70)
Q3 2020	220.83	279.23	322.63	45.89	-	(143.66)
Q4 2020	192.40	241.06	223.07	56.03	-	(22.35)
Q1 2021	197.33	197.37	247.38	64.57	-	(71.57)
Q2 2021	205.80	227.19	222.04	57.76	-	7.89
Q3 2021	182.21	188.47	307.63	44.14	-	(48.87)
Q4 2021	261.68	225.04	236.95	44.51	-	(44.48)
Q1 2022	229.86	246.32	219.57	62.37	-	(40.97)
Q2 2022	299.57	273.20	214.89	44.26	-	(59.46)
Q3 2022	307.33	355.81	207.65	42.22	-	(54.80)
Q4 2022	411.95	397.65	146.68	37.68	-	(63.88)
Q1 2023	292.11	340.70	345.77	50.65	-	(66.29)
Q2 2023	530.26	352.95	109.07	56.44	-	(55.24)
Q3 2023	300.43	373.70	335.65	52.08	-	(54.24)
Q4 2023	294.94	374.94	340.59	43.74	-	(41.29)

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Brokerage and Asset Management	Joint Projects	Others
2014	922.89	827.74	648.82	131.73	-	-
2015	908.31	959.33	762.14	120.86	(10.42)	(229.16)
2016	1,002.71	1,113.80	520.77	88.05	(54.95)	(264.51)
2017	1,171.41	1,071.04	462.60	86.27	-	(131.44)
2018	1,257.74	1,124.44	427.82	82.77	-	(180.04)
2019	763.30	1,362.38	726.44	105.32	-	(139.20)
2020	932.28	1,105.73	922.00	164.81	-	(278.69)
2021	847.02	838.08	1,014.00	210.98	-	(157.03)
2022	1,248.71	1,272.98	788.79	186.53	-	(219.11)
2023	1,229.30	1,462.96	1,298.84	202.91	-	(227.43)

Analysts Estimates (Million)

Item	Q4 2023 (e)	Q4 2023 (a)	Change‬
Average	473.34	447.27	(5.5 %)

Estimates vs Actual (Million)

Item	Q4 2023 (e)	Q4 2023 (a)	Change
Hermes	440.00	447.27	1.7 %
OSOOL AND BAKHEET	506.67	447.27	(11.7) %

Financial Ratios

	Current
Market Cap (M Riyal)	17,500.00
Shares Outstanding ((M))	1,250.00
EPS ( Riyal) (TTM)	1.52
EPS Diluted ( Riyal) (TTM)	1.39
Book Value (BV) ( Riyal)	12.27
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	9.24
P/E (TTM)	9.24
Price/book	1.14
Return on Average Assets (%) (TTM)	1.3
Return on Average Equity (%) (TTM)	13.0

Saudi Investment Bank (SAIB)

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SAIB profit jumps 17% to SAR 1.76B in 2023; Q4 at SAR 447.3M

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Profit Performance (Million)

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SAIB profit jumps 17% to SAR 1.76B in 2023; Q4 at SAR 447.3M

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Financials (M)

Current Quarter Comparison (M)

Balance Sheet (B)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Balance Sheet (B)

Balance Sheet Performance (B)

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Ratios

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

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