Riyadh – Mubasher: The Saudi Investment Bank (SAIB) announced that Q4-15 net profits dropped by 39.2% to SAR228 million, compared with SAR375 million in the same period of 2014.
The twelve-month net profit also dipped by 7.45% to SAR1.33 billion, compared with SAR1.43 billion a year earlier, the bank said.
The reason behind Q4-15 profit fall is low net income due to high operating expenses (36.4%) and low operating income (4.95%).
Likewise, the twelve-year profit decline is ascribed to low net income, caused by a 14% rise in operating expenses and 0.79% fall in operating income.
