Riyad Bank’s net profit falls 16% to SAR 4.715 bln in 2020

21/02/2021 Argaam Exclusive

Riyad Bank posted a net profit of SAR 4.715 billion in 2020, down 16% compared to a profit of SAR 5.6 billion in 2019.

 

The decline was attributed to a 23.8% increase in total operating expenses, driven by higher net impairment charge for credit losses and other financial assets and investments.

 

This was partially offset by an increase in total operating income.



Financials (M)

Item 2019 2020 Change‬
Net Special Commission Income 7,837.02 8,213.61 4.8 %
Operating Income 10,717.06 11,205.12 4.6 %
Total Provisions (970.20) (1987.07) (104.8 %)
Net Income 5,602.07 4,715.00 (15.8 %)
Average Shares 3,000.00 3,000.00 -
EPS (Riyals) 1.87 1.57 (15.8 %)
EPS Diluted (Riyals) 1.87 1.57 (16.0 %)

The fourth-quarter net profit fell 21% year-on-year (YoY) to SAR 879.5 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Net Special Commission Income 2,031.12 2,035.87 0.2 %
Operating Income 2,704.66 2,789.71 3.1 %
Debt Provisions (334.93) (647.62) (93.4 %)
Net Income 1,111.18 879.54 (20.8 %)
Average Shares 3,000.00 3,000.00 -
EPS (Riyals) 0.37 0.29 (20.8 %)
EPS Diluted (Riyal) 0.37 0.29 (21.6 %)

Balance Sheet (B)

Item 2019 2020 Change‬
Assets 265.79 310.09 16.7 %
Customer Deposits 194.52 203.04 4.4 %
Loan 173.98 191.35 10.0 %

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Share Price

Riyad Bank
26.60
0.00 0.00 %

Riyad Bank (RIBL)

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Financial Ratios
Current
Market Cap (M Riyal) 79,800.00
Shares Outstanding ((M)) 3,000.00
EPS ( Riyal) (TTM) 3.01
EPS Diluted ( Riyal) (TTM) 2.91
Book Value (BV) ( Riyal) 18.86
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 8.85
P/E (TTM) 8.85
Price/book 1.41
Return on Average Assets (%) (TTM) 2.2
Return on Average Equity (%) (TTM) 16.8
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