Riyad Bank's annual profit fell to 4.7 billion riyals

Riyad Bank's profits fell by 15.8%. The net profit will reach 4.715 billion riyals in 2020, compared to 5.602 billion riyals in 2019.

According to Arabiya Net, the bank said in a statement that its total revenues amounted to 9.8 billion riyals, compared to 10.37 billion riyals in the previous year, a decrease of 5.38%.

According to Arabiya Net, the company said in a statement that its total revenues amounted to 9.8 billion riyals, compared to 10.37 billion riyals in the previous year, a decrease of 5.38%.

> The bank said that the decrease in net income is mainly due to the increase in total operating expenses by 23.8%, and this is due to the increase in the provision for reduced credit losses and other financial assets and the provision for decline In the value of investments.

and this was partially offset by an increase in total operating income by 4.6%, as a result of the increase in net special commission income, net trading income, net foreign exchange income, net income from other operations and net Gains on sale of non-trading investments, partly offset by lower net fee and commission income.