Riyadh – Mubasher: The Saudi Investment Bank (SAIB) recorded an 11.07% year-on-year (YoY) hike in net profit to SAR 1.95 billion during 2024, compared to SAR 1.76 billion.

Clients' deposits hit SAR 94.01 billion as of 31 December 2024, up 12.95% from SAR 83.23 billion a year earlier, according to the financial results.

Earnings per share (EPS) increased to SAR 1.43 last year from SAR 1.28 in 2023.

Assets hiked by 20.53% to SAR 156.66 billion as of 31 December 2024 from SAR 129.98 billion a year earlier, while the investments climbed by 25.17% to SAR 40.43 billion from SAR 32.30 billion.

In the first half (H1) of 2024, SAIB posted 8.92% higher net profits at SAR 928.80 million, compared to SAR 852.70 million in H1-23.