Riyad Bank, Saudi Arabia's third-largest listed lender by assets, reported SAR 1,076 million net earnings for the third quarter of 2014, increasing 7.82% year-on-year from SAR 998 million but falling 5.28% quarter-on-quarter from SAR 1,136 million.
The nine-month earnings netted SAR 3,292 million, rising 12.86% from SAR 2,917million in the same period of last year.
The earnings per share also increased from SAR 0.97 to SAR 1.1.
Total assets also rose 7.57% y/y from almost SAR 201,799 million to SAR 217,069 million.
The loans and advances portfolio stood at SAR 140,701 million, compared with SAR 129,903 million a year earlier, a rise of 8.31%.
The customer deposit also grew 4.83% y/y from SAR 154,194 million to SAR 161,641 million.
The lender ascribed the increase in Q3 profit y/y to the increase in total operating income. It also attributed the growth in nine-month earnings to the same reason.
However, the decline in Q3 profit compared to the previous quarter was due to the decrease in total operating income.