Riyad Bank’s profits jump to $2.13bln in 2023

Riyad Bank recorded 6.21% year-on-year higher clients’ deposits

Staff Writer, Mubasher

February 13, 2024

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Riyadh – Riyad Bank achieved net profits worth SAR 8.04 billion in 2023, an annual rise of 14.62% from SAR 7.01 billion.

Earnings per share (EPS) went up to SAR 2.58 last year from SAR 2.32 in 2022, according to the financial results.

Riyad Bank recorded 6.21% year-on-year (YoY) higher clients’ deposits at SAR 254.90 billion as of 31 December 2023, compared to SAR 240 billion.

The assets grew by 7.56% YoY to SAR 386.84 billion in 2023 from SAR 359.65 billion, while the investments climbed by 11.33% YoY to SAR 58.10 billion from SAR 52.19 billion.

In the first nine months (9M) of 2023, the lender posted a 22.03% surge in net profit to SAR 6.09 billion, compared to SAR 4.99 billion in 9M-22.

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