The financial statements of Riyad Bank revealed an increase in the bank’s profits in the second quarter of this year by 6.6% on an annual basis, to reach 1.61 billion riyals, compared to 1.51 billion riyals in the corresponding period of 2021.
The bank said in a statement to the Saudi market (Tadawul), today, Thursday, that the increase in profits during the comparison periods is mainly due to the rise in total operating income, partially offset by a total increase in operating expenses.
The bank achieved a net profit in the first half of this year of 3.16 billion riyals, compared to 2.87 billion riyals, profits for the same period of the previous year, an increase in profits by 10.4%.
Earnings per share for the period ending on June 30, 2022 amounted to about 1.05 riyals, compared to 0.96 riyals per share for the period ending on June 30, 2021, with an increase of 0.09 riyals per share.
