The increase in the profits of the Saudi Investment Bank to 1.95 billion riyals in 2024

The profits of the Saudi Investment Bank in the fiscal year ending in 2024 increased by 11.1% to 1.956 billion riyals, compared to 1.761 billion riyals in the year 2023.
According to the bank’s statement on the circulation of Saudi Arabia, the net profit is high due to the rise in the total income of operations, in addition to a decrease in the allocations of credit losses and other losses.
The total operations income increased by 5.3%, and this is mainly due to the increase in the net income of private commissions, and the fair value through the income list and fees from banking services, partially met with a decrease in the gains of excluding the debt bonds at a fair value through the other comprehensive income and fees for transferring foreign currencies .
The total operations expenses increased marginalized by 0.4 %, which mainly resulted from the rise in other public and administrative expenses, employee salaries and expenses, met with low credit and other losses, and the rent and expenses of buildings, in addition to a decrease in consumption and firefighting.