Riyad Bank — Earnings Release 2005

Jan 3, 2006

Riyad Bank reports net income of SAR 2837 million for 2005

1010 · 03/01/2006 15:21:19 · Announcement #7779 · View on Saudi Exchange

Riyad Bank reports net income of SAR 2837 million for 2005

The Chairman of Riyad Bank, Rashed Abdulaziz Al-Rashed has announced that the Bank achieved Net Income of SAR 2837 million in 2005, which includes SAR 296 million as non-recurring capital gains, compared to SAR 2006 million in 2004, resulting in 41.5 % increase for the year. Al-Rashed added that the Bank?s net income from Banking and Operating activities reached SAR 2541 million, an increase of 26.7 % compared to 2004. This performance reflects the Banks commitment to maintain continuous growth and enhance shareholders value.

Al-Rashed also mentioned that the Board of Directors, on 12 December 2005, has decided to apply to the concerned authorities to increase its paid up capital from SAR 5000 million to SAR 6250 million by issuing one bonus share for each four shares held, which constitutes a 25% increase, this is considered to be the second bonus share within almost a year, as the Bank already issued one share for each 4 shares held at the beginning of 2005.

Al-Rashed added that the Board has also recommended a cash dividend of SAR 8 Riyals per Share for the second half of 2005, thus total dividends for 2005 amount to SAR 16 per share. Total cash dividends for 2005 have increased 11% compared to 2004. This reaffirms shareholders? expectations, enhance their equity continuously and confirm the bank?s leading position in the banking sector.

He confirmed that these results have been possible because of confidence and support of Bank?s customers and shareholders and due to Bank?s staff who made commendable and sincere hard work towards achievement of the Bank?s objectives.

Finally, he pointed out that the Bank will publish its detailed financial statement for 2005 as soon as statutory requirements are completed.

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