Riyad Bank reported a net profit of SAR 4.408 billion for the first nine months of 2021, an increase of 15%, compared to SAR 3.835 billion in prior-year period, driven by 2.4% higher gross operating income.
The bank also cited an 11.7% decline in total operating expenses.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 6,177.74 | 6,223.54 | 0.7 % |
| Operating Income | 8,415.41 | 8,618.50 | 2.4 % |
| Total Provisions | (1339.46) | (617.34) | 53.9 % |
| Net Income | 3,835.46 | 4,408.02 | 14.9 % |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 1.28 | 1.47 | 14.9 % |
| EPS Diluted (Riyals) | 1.28 | 1.47 | 14.8 % |
The bank’s Q3 2021 net profit increased by 19% year-on-year (YoY) to SAR 1.543 billion, due to lower gross operating expenses and higher trading income.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 2,072.67 | 1,981.71 | (4.4 %) |
| Operating Income | 2,820.99 | 2,816.58 | (0.2 %) |
| Debt Provisions | (466.07) | (138.62) | 70.3 % |
| Net Income | 1,295.98 | 1,542.81 | 19.0 % |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 0.43 | 0.51 | 19.0 % |
| EPS Diluted (Riyal) | 0.43 | 0.51 | 18.6 % |
On a sequential basis, net profit grew 2.05%.
Total shareholders equity (after deducting minority equity) grew by 7.9% YoY to SAR 46.05 billion in the nine-month period.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Assets | 308.56 | 318.66 | 3.3 % |
| Customer Deposits | 201.29 | 204.00 | 1.3 % |
| Loan | 190.82 | 210.48 | 10.3 % |
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