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Riyad Bank’s net profits rise 13% in H1-21

Riyad Bank’s net profits rise 13% in H1-21
Earnings per share stood at SAR 0.96 in H1-21
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Riyadh – Mubasher: Riyad Bank achieved a 12.8% increase in net profits after Zakat and tax to SAR 2.86 billion in the first half (H1) of 2021 from SAR 2.53 billion in H1-20.

Earnings per share stood at SAR 0.96 in H1-21, compared to SAR 0.85 in H1-20, according to the financial results on Sunday.

Clients’ deposits were up 1.2% to SAR 202.45 billion in H1-21 from SAR 199.98 billion in H1-20.

The lender’s assets increased by 7.5% to SAR 317.26 billion at the end of June 2021 from SAR 295.08 billion in the same period last year.

Total operating profits rose by 3.7% to SAR 5.8 billion in H1-21 from SAR 5.59 billion in H1-20.

During the second quarter (Q2) of 2021, the net profits surged 42% to SAR 1.51 billion from SAR 1.06 billion in Q2-20.

Total operating profits in Q2-21 stood at SAR 2.97 billion, up by almost 10% from SAR 2.7 billion in Q2-20.              

On a quarterly basis, the net profits in Q2-21 were 11.6% higher than SAR 1.35 billion in Q1-21. The total operating profit rose by 5.4% from SAR 2.82 billion.

The financial institution will be paying a total of SAR 1.5 billion as cash dividends for H1-21.