Riyad Bank reported net profit of SAR 6.025 billion for 2021, a 28% increase year-on-year (YoY) from SAR 4.715 billion.
This profit rise was driven by a 16.1% drop in operating expenses due to lower net impairment charge for credit losses and other financial assets.
Meanwhile, total operating income rose due to increase in fee and commission income and gains on disposal of non-trading investments.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 8,213.61 | 8,293.17 | 1.0 % |
| Operating Income | 11,205.12 | 11,567.84 | 3.2 % |
| Total Provisions | (1987.07) | (860.85) | 56.7 % |
| Net Income | 4,715.00 | 6,025.38 | 27.8 % |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 1.57 | 2.01 | 27.8 % |
| EPS Diluted (Riyals) | 1.57 | 2.01 | 28.0 % |
The bank's Q4 2021 net earnings surged 84% year-on-year (YoY) to SAR 1.617 billion.
On a sequential basis, net profit rose 4.8% from SAR 1.542 billion in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 2,035.87 | 2,069.63 | 1.7 % |
| Operating Income | 2,789.71 | 2,949.34 | 5.7 % |
| Debt Provisions | (647.62) | (243.52) | 62.4 % |
| Net Income | 879.54 | 1,617.36 | 83.9 % |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 0.29 | 0.54 | 83.9 % |
| EPS Diluted (Riyal) | 0.29 | 0.54 | 86.2 % |
Total shareholders’ equity, excluding minority interest, grew to SAR 47.300 billion in the 12-month period, from SAR 44.355 billion in 2020.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Assets | 310.09 | 325.74 | 5.0 % |
| Customer Deposits | 203.04 | 211.68 | 4.3 % |
| Loan | 191.35 | 217.29 | 13.6 % |
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