Financial Results : Riyad Bank 9M 2020 net profit falls 15% to SAR 3.83 bln

Riyad Bank 9M 2020 net profit falls 15% to SAR 3.83 bln

01/11/2020 Argaam Exclusive

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Riyad Bank reported a net profit of SAR 3.83 billion in the first nine months of 2020, down 15% year-on-year (YoY) driven by increase in total operating expenses, which was partially offset by increase in the total operating income.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Net Special Commission Income 5,805.90 6,177.74 6.4 %
Operating Income 8,012.40 8,415.41 5.0 %
Total Provisions (635.27) (1339.46) (110.8 %)
Net Income 4,490.89 3,835.46 (14.6 %)
Average Shares 3,000.00 3,000.00 -
EPS (Riyals) 1.50 1.28 (14.6 %)
EPS Diluted (Riyals) 1.50 1.28 (14.7 %)


Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Net Special Commission Income 2,034.23 2,072.67 1.9 %
Operating Income 2,762.69 2,820.99 2.1 %
Debt Provisions (189.84) (466.07) (145.5 %)
Net Income 1,506.35 1,295.98 (14.0 %)
Average Shares 3,000.00 3,000.00 -
EPS (Riyals) 0.50 0.43 (14.0 %)
EPS Diluted (Riyal) 0.50 0.43 (14.0 %)

In Q3 2020, Riyad Bank’s net profit fell 14% YoY to SAR 1.3 billion mainly due to higher operating expenses.

 

On a sequential basis, Q3 profit rose 22%.

Balance Sheet (B)

Item 9m 2019 9m 2020 Change‬
Assets 250.57 308.56 23.1 %
Customer Deposits 177.67 201.29 13.3 %
Loan 166.28 190.82 14.8 %

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