Riyadh – Mubasher: The net profits of Riyad Bank increased by 16.50% to SAR 7.01 billion in 2022, versus SAR 6.02 billion in 2021, according to the annual income statements.

Earnings per share (EPS) settled at SAR 2.32 during the 12-month period that ended on 31 December 2022, compared to SAR 2.01 a year earlier.

The Saudi lender reported clients’ deposits of SAR 240 billion in 2022, a 13.38% year-on-year (YoY) surge from SAR 211.67 billion.

Assets rose by 10.41% to SAR 359.65 billion in 2022 from SAR 325.73 billion in 2021, whereas the bank's investments declined by 10.98% to SAR 52.19 billion from SAR 58.63 billion.

In the first nine months (9M) of 2022, Riyad Bank generated SAR 4.99 billion net profits, higher by 13.22% YoY than SAR 4.40 billion.

Meanwhile, the EPS went up to SAR 1.64 in 9M-22 from SAR 1.47 in 9M-21.