Riyadh – Mubasher: Riyad Bank witnessed a 13.22% year-on-year (YoY) surge in net profit to SAR 4.99 billion during the first nine months (9M) of 2022, versus SAR 4.40 billion.

Earnings per share (EPS) stood at SAR 1.64 in the January-September 2022 period, higher than SAR 1.47 during the same period a year earlier, according to the interim income statements.

Additionally, clients’ deposits registered SAR 235.89 billion in 9M-22, a jump of 15.63% from SAR 203.99 billion in the year-ago period. 

The assets went up by 9.17% to SAR 347.88 billion in 9M-22, compared to SAR 318.65 billion in 9M-21.

On the other hand, the investments declined by 7.32% YoY to SAR 53.24 billion in 9M-22 from SAR 57.45 billion.

In the third quarter (Q3) of 2022, Tadawul-listed Riyad Bank logged net profits worth SAR 1.82 billion, an annual increase of 18.47% from SAR 1.54 billion.

On a quarterly basis, the net profits in Q3-22 enlarged by 13.47% from SAR 1.61 billion in Q2-22.

During the first half (H1) of 2022, the lender generated SAR 3.16 billion in net profits, up 10.44% from SAR 2.86 billion in the January-June period of 2021.