Riyad Bank financial statements showed that the bank's profits decreased by 0.61% in the first quarter of this year on an annual basis.
According to the results of the bank for the Saudi market (Tadawul) yesterday, Sunday, the profits for the period reached 1.476 billion riyals, compared to 1.485 billion riyals profits for the first quarter of 2019. >
The bank said in a statement to the stock exchange that the decline in profits came marginally during the comparison periods, noting that the total operating income increased by 11.8%, mainly due to the increase in net income Special commission, net foreign exchange income, net fee and currency income, net gains from sale of investments held for non-trading purposes.
The total operating expenses increased by 17.2%, mainly due to the increase in net provision for credit losses, other financial assets, employee salary expenses and the like.
The bank’s total shareholders ’equity at the end of the first quarter of this year reached 37.8 billion riyals, compared to 37.65 billion riyals for the same period in 2019, a slight increase of 0.4%.
