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Saudi Arabia's Riyad Bank posted a Q1 2025 net profit of 2.49 billion riyals ($664 million), 20% higher compared with SAR 2.07 billion reported in same quarter in the previous year.
The earnings narrowly beat analysts’ mean estimate of SAR2.45 billion, according to LSEG data.
Earnings per share for Q1 came in at SAR0.79 versus SAR0.66 in the prior-year period.
The bank said the net profit increase was mainly due to a 20% growth in net income and a drop in total operating expenses.
Net provision of expected credit losses fell by 17% mainly due to lower impairment charge.
(Writing by Brinda Darasha; editing by Daniel Luiz)
