According to Arab Net, the bank said in a statement that net profit rose mainly as a result of the decline in total operations expenses as a result of the decline in credit losses and other losses, other public and administrative expenses, the leases and expenses of buildings, and consumption and extinguishing, height in Zakat Income tax.
The total income of operations fell by 12% mainly due to the decline in net commission income, fair value through profits and losses, and gains from the debt bonds on its fair value through other comprehensive income, and the profits of foreign currency transformation, he has increased in the income of banking services, Other operations entered.
The Saudi Investment Bank announced the recommendation of the Board of Directors to distribute cash dividends on shareholders from 2020, with a total of 270 million riyals, for 675 million shares.
The Bank announced the annual financial results of 2020, a growth in net profit, accounting for 310%, to 980 million riyals, compared to SAR 239 million during 2019.
