The financial statements of Riyad Bank showed an increase in the bank’s profits in the third quarter of this year by 18.5% on an annual basis, to reach 1.83 billion riyals, compared to 1.54 billion riyals in the same period in 2021.
Riyad Bank said in a statement to the Saudi market (Tadawul), today, Sunday, that the increase in profits during the comparison periods is mainly due to the rise in total operating income, partially offset by the increase in total operating expenses.
Riyad Bank clarified in the statement that the increase in total operating income at the end of the third quarter of this year is mainly due to the increase in net special commission income, net foreign currency conversion income, net fee and commission income, and other operating income.
The total commission income of Riyad Bank at the end of the third quarter of this year amounted to about 3.53 billion riyals, an increase of 62.2% on an annual basis, while the net special commission income of the bank at the end of the period increased by 34.8% on an annual basis.
Riyad Bank achieved profits of 5 billion riyals at the end of the first nine months of this year, compared to 4.41 billion riyals in the same period of the previous year, an increase in net profits by 13.2%.
