28 April, 2024 15:45
Riyad Bank announces its Interim Financial Results for the Period Ending on 2024-03-31 ( Three Months )
Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
---|---|---|---|---|---|
Total Income From Special Commission of Financing | 5,059,191 | 4,094,906 | 23.548 | 4,993,751 | 1.31 |
Total Income From Special Commission of Investment | 610,227 | 536,891 | 13.659 | 606,724 | 0.577 |
Net Income From Special Commission of Financing | 2,716,437 | 2,686,634 | 1.109 | 2,672,092 | 1.659 |
Net Income From Special Commission of Investment | 334,444 | 401,714 | -16.745 | 469,850 | -28.818 |
Total Operations Profit (Loss) | 4,087,687 | 4,036,229 | 1.274 | 3,932,147 | 3.955 |
Net Profit (Loss) before Zakat and Income Tax | 2,311,004 | 2,251,521 | 2.641 | 2,179,190 | 6.048 |
Net Profit/(Loss) | 2,072,723 | 2,019,592 | 2.63 | 1,954,564 | 6.045 |
Total Comprehensive Income | 2,170,176 | 1,724,019 | 25.878 | 2,863,756 | -24.219 |
Total Operating Expenses Before Provisions for Credit and Other Losses | 1,345,715 | 1,161,721 | 15.838 | 1,273,858 | 5.64 |
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 436,588 | 624,108 | -30.046 | 483,041 | -9.616 |
All figures are in (Thousands) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
---|---|---|---|
Assets | 404,858,906 | 380,624,793 | 6.366 |
Investments | 60,663,493 | 54,694,620 | 10.913 |
Loans And Advances Portfolio (Financing And Investment) | 282,854,210 | 251,982,846 | 12.251 |
Clients' deposits | 270,947,883 | 257,277,358 | 5.313 |
Total Shareholder’s Equity (After Deducting The Minority’s Rights) | 53,513,978 | 49,269,924 | 8.613 |
Profit (Loss) per Share | 0.66 | 0.64 | |
All figures are in (Thousands) Saudi Arabia, Riyals |
Element List | Amount | Percentage of the capital (%) | |
---|---|---|---|
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
All figures are in (Thousands) Saudi Arabia, Riyals |
Element List | Explanation |
---|---|
The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is | The special commission income increased by 22.4% mainly due to an increase in interest income from loans and advances and investments. |
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net income increased by 2.6 % mainly due to an increase in total operating income and decrease in total operating expenses. Total operating income increase was mainly due to an increase in fee and commission income net, gains on disposal of non-trading investments, net , and dividend income, partially offset by a decrease in net special commission income, trading income, net, exchange income, net, and other operating income. The total operating expenses decrease was mainly in impairment charge for credit losses and other financial assets, net, and impairment charge for investments, net partially offset by an increase in salaries and employee related expenses, other general and administrative expenses, depreciation of property, equipment and right of use assets, rent and premises-related expenses, and other operating expenses. |
The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is | Net provision of expected credit losses and other losses decreased by 30.05% mainly due to lower Impairment charge of credit losses and other financial assets, net and impairment charge for investments, net. |
The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | The special commission income increased by 1.2% mainly due to an increase in interest income from bank placements, loans and advances and investments. |
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | Net income increased by 6.0 % mainly due to an increase in total operating income partially offset by an increase in total operating expenses. Total operating income increase was mainly due to an increase in fee and commission income net, trading income, net, gains on disposal of non-trading investments, net, exchange income, net and dividend income, partially offset by a decrease in net special commission income, and other operating income. The total operating expenses increase was mainly due to an increase in salaries and employee related expenses, and other operating expenses offset by lower impairment charge for credit losses, impairment charge for investments, net, rent and premises-related expenses, depreciation of property, equipment and right of use assets and other general and administrative expenses. |
The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is | Net provision of expected credit losses and other losses decreased by 9.6% mainly due to lower Impairment charge of credit losses and impairment charge for investments. |
Statement of the type of external auditor's report | Unmodified Conclusion |
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
Reclassification of Comparison Items | None |
Additional Information | Basic and diluted earnings per share for the period ended 31 March 2024 is calculated on weighted average basis by dividing the net income attributable to common equity holders of the Bank,( adjusted for Tier 1 sukuk costs), for the period by 2,995 million shares(after excluding five million treasury shares). Basic and diluted earnings per share for the period ended 31 March 2023 is calculated by dividing the net income attributable to common equity holders of the Bank (adjusted for Tier 1 sukuk costs) for the period by 3,000 million outstanding shares. |
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