Riyad Bank reported a fall of 15% in H1 2020 net profit to SAR 2.5 billion, from SAR 3 billion in year earlier period, due to increased operating expenses, higher impairment charges in current period.
In Q2 2020, Riyad Bank’s net profit tumbled 29% to SAR 1 billion, compared to a net profit of SAR 1.5 billion in Q2 2019. The bank was hit by increased operating expenses, and higher impairment charges.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 3,771.67 | 4,105.07 | 8.8 % |
| Operating Income | 5,249.71 | 5,594.43 | 6.6 % |
| Total Provisions | (445.43) | (873.39) | (96.1 %) |
| Net Income | 2,984.54 | 2,539.48 | (14.9 %) |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 0.99 | 0.85 | (14.9 %) |
| EPS Diluted (Riyals) | 0.99 | 0.85 | (14.1 %) |
When compared to the previous quarter, Q2 net profit fell by 28%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,962.95 | 2,115.75 | 7.8 % |
| Operating Income | 2,669.57 | 2,708.95 | 1.5 % |
| Debt Provisions | (283.05) | (569.99) | (101.4 %) |
| Net Income | 1,499.75 | 1,063.05 | (29.1 %) |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 0.50 | 0.35 | (29.1 %) |
| EPS Diluted (Riyal) | 0.50 | 0.35 | (30.0 %) |
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Assets | 246.12 | 295.08 | 19.9 % |
| Customer Deposits | 176.51 | 199.99 | 13.3 % |
| Loan | 161.32 | 187.65 | 16.3 % |
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