Riyad Bank posted a net profit of SAR 4.715 billion in 2020, down 16% compared to a profit of SAR 5.6 billion in 2019.
The decline was attributed to a 23.8% increase in total operating expenses, driven by higher net impairment charge for credit losses and other financial assets and investments.
This was partially offset by an increase in total operating income.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 7,837.02 | 8,213.61 | 4.8 % |
| Operating Income | 10,717.06 | 11,205.12 | 4.6 % |
| Total Provisions | (970.20) | (1987.07) | (104.8 %) |
| Net Income | 5,602.07 | 4,715.00 | (15.8 %) |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 1.87 | 1.57 | (15.8 %) |
| EPS Diluted (Riyals) | 1.87 | 1.57 | (16.0 %) |
The fourth-quarter net profit fell 21% year-on-year (YoY) to SAR 879.5 million.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 2,031.12 | 2,035.87 | 0.2 % |
| Operating Income | 2,704.66 | 2,789.71 | 3.1 % |
| Debt Provisions | (334.93) | (647.62) | (93.4 %) |
| Net Income | 1,111.18 | 879.54 | (20.8 %) |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 0.37 | 0.29 | (20.8 %) |
| EPS Diluted (Riyal) | 0.37 | 0.29 | (21.6 %) |
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Assets | 265.79 | 310.09 | 16.7 % |
| Customer Deposits | 194.52 | 203.04 | 4.4 % |
| Loan | 173.98 | 191.35 | 10.0 % |
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