Riyad Bank’s Q3 profits soar 19%

On a quarterly basis, the net profits in Q3-21 were 2% higher

  
Saudi traders are seen as they monitor stock information at ANB Bank in Riyadh, Saudi Arabia December 15, 2020.

Saudi traders are seen as they monitor stock information at ANB Bank in Riyadh, Saudi Arabia December 15, 2020.

REUTERS/Ahmed Yosri
Riyadh – Riyad Bank reported a year-on-year (YoY) increase of 19% in net profits to SAR 1.54 billion during the third quarter (Q3) of 2021 from SAR 1.29 billion.

On a quarterly basis, the net profits in Q3-21 were 2% higher than SAR 1.51 billion in Q2-21, according to the initial financial results on Wednesday.

During the first nine months of 2021, Riyad Bank achieved net profits worth SAR 4.4 billion, higher by 14.9% YoY than SAR 3.83 billion.

Earnings per share rose to SAR 1.47 at the end of September 2021 from SAR 1.28 in the same period last year.

Clients’ deposits went up 1% YoY to SAR 203.99 billion in the January-September 2021 period from SAR 201.29 billion.

Assets grew by 3% YoY to SAR 318.65 billion during the nine-month period this year from SAR 308.55 billion.

Source: Mubasher

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