Riyadh – Mubasher: The Saudi Investment Bank on Thursday said its net profits increased 10.64% year-on-year in the second quarter of 2017.
Quarter-on-quarter, net profits rose 3.1%, according to a statement to the Saudi Stock Exchange (Tadawul).
The bank’s net profits rose to SAR 355.6 million in Q2-17, compared to SAR 321.4 million in the year-ago period.
The Tadawul-listed investment bank attributed its year-on-year growth in net profits to the increase in net special commissions income.
At the level of the first six months of 2017, net profits surged 31.84% reaching SAR 700.6 million, compared to SAR 531.4 million in H1-16.
The bank’s stock fell 1.35% and closed at SAR 13.90 on Thursday.
