Riyadh – Mubasher: Riyad Bank has generated SAR 1.55 billion in net profit during the first quarter (Q1) of 2022, up by 14.69% from SAR 1.35 billion in Q1-21.

Earnings per share went up to SAR 0.52 in January-March 2022 from SAR 0.45 in the same period a year earlier, according to a bourse filing on Tuesday.

Clients’ deposits soared by 17.02% to SAR 232.41 billion in Q1-22 from SAR 198.59 in Q1-21.

The bank registered investments worth SAR 59.03 billion during the first three months (3M) of 2022, higher by 3.69% than SAR 56.93 billion in the corresponding quarter last year.

On a quarterly basis, the net profits in Q1-22 were 3.95% lower than SAR 1.61 billion in Q4-21.

In 2021, the Saudi lender posted a 27.78% year-on-year (YoY) increase in net profits to SAR 6.02 billion from SAR 4.71 billion.