Riyad Bank’s net profits cross $1.6bln in 9M-23

Riyad Bank’s net profits cross $1.6bln in 9M-23

Riyad Bank recorded 22.03% year-on-year (YoY) higher net profits at SAR 6.09 billion in the first nine months (9M) of 2023, compared to SAR 4.99 billion.

The clients’ deposits hit SAR 254.71 billion in 9M-23, up 7.98% from SAR 235.89 billion in 9M-22, according to the interim financial results.

Earnings per share (EPS) stood at SAR 1.95 as of 30 September 2023, an annual rise from SAR 1.64.

Assets increased by 8.37% to SAR 377.01 billion in 9M-23 from SAR 347.88 billion a year earlier, while investments surged by 8.71% to SAR 57.88 billion from SAR 53.24 billion.