Tuesday, Jan 17, 2012
RIYADH (Zawya Dow Jones)--Riyad Bank (1010.SA), the third-largest lender in Saudi Arabia by market capitalization, Tuesday reported net profits of SAR778 million ($207 million) for the fourth quarter, up 1.8% on the year.
The bank attributed the slight rise, which was in line with analysts' expectations, to increased operating income.
Earnings per share for the year were SAR2.10, compared with SAR1.88 for 2010, the bank said in a statement on the Saudi stock exchange.
Net special commissions for the year were SAR4.20 billion, up 1.3% from 2010, the bank said. Total operating income rose to SAR6.3 billion, compared with SAR5.98 billion for 2010.
Total assets at the close of 2011 stood at SAR180.1 billion, against SAR173.56 billion for 2010. Customer deposits increased 10% for the year to SAR139 million.
The share price for Riyad Bank fell Tuesday by SAR0.43, to SAR23.20.
-Ellen Knickmeyer, Dow Jones Newswires; +966 1 279 5252; ellen.knickmeyer@dowjones.com
(END) Dow Jones Newswires
17-01-12 1705GMT
