Riyad Bank posted a net profit of SAR 3.164 billion for the first half of 2022, a rise of 10% from SAR 2.865 billion in the prior-year period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Net Special Commission Income | 4,241.83 | 4,528.61 | 6.8 % |
| Operating Income | 5,801.92 | 6,332.00 | 9.1 % |
| Total Provisions | (478.72) | (449.18) | 6.2 % |
| Net Income | 2,865.22 | 3,163.82 | 10.4 % |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 0.96 | 1.05 | 10.4 % |
| EPS Diluted (Riyals) | 0.96 | 1.04 | 8.3 % |
The profit growth was mainly due to an increase in total operating income, higher fee and commission income, as well as foreign exchange income. On the other hand, there was a drop in gains from non-trading investments, dividend income and other operating income.
The second-quarter net profit grew by 7% to SAR 1.611 billion, from SAR 1.511 billion a year earlier, backed by a rise in total operating income, fee and commission income, as well as foreign exchange income.
Compared to Q1 2022, the second-quarter net profit grew 3.8% from SAR 1.552 billion.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Net Special Commission Income | 2,146.02 | 2,396.73 | 11.7 % |
| Operating Income | 2,978.09 | 3,230.47 | 8.5 % |
| Debt Provisions | (229.32) | (301.53) | (31.5 %) |
| Net Income | 1,511.60 | 1,611.23 | 6.6 % |
| Average Shares | 3,000.00 | 3,000.00 | - |
| EPS (Riyals) | 0.50 | 0.54 | 6.6 % |
| EPS Diluted (Riyal) | 0.50 | 0.53 | 6.0 % |
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Assets | 317.27 | 357.95 | 12.8 % |
| Customer Deposits | 202.45 | 237.48 | 17.3 % |
| Loan | 204.74 | 239.65 | 17.1 % |
Total shareholders’ equity, after minority interest, reached SAR 46.636 billion as of June 30, 2022, compared with SAR 44.551 billion a year earlier.
Net impairment charges for credit losses in the six-month period stood at SAR 608 million, compared to SAR 550 million in the corresponding period of 2021.
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