Riyad Bank — Earnings Release 2021

Mar 6, 2022

Riyad Bank announces its Annual Financial Results for the Period Ended on 2021-12-31

1010 · 06/03/2022 15:24:06 · Announcement #66967 · View on Saudi Exchange

Riyad Bank announces its Annual Financial Results for the Period Ended on 2021-12-31

Element List	Current Year	Previous Year	%Change
Total income from Special Commissions/Financing & Investments	9,108	9,813	-7.184
Net Income from Special Commissions/Financing & Investments	8,293	8,213	0.974
Total Operation Profit (Loss)	11,568	11,205	3.239
Net Profit (Loss) before Zakat and Income Tax	6,718	5,484	22.501
Net Profit (Loss)	6,025	4,715	27.783
Total Comprehensive Income	5,945	5,434	9.403
Total Share Holders Equity (after Deducting Minority Equity)	47,300	44,355	6.639
Assets	325,736	310,088	5.046
Investments	58,637	56,450	3.874
Loans and Advances Portfolio (Financing & Investment)	217,290	191,347	13.558
Clients' deposits	211,678	203,039	4.254
Profit (Loss) per Share	2.01	1.57
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Net income increased by 27.8% mainly due to a decrease in total operating expenses by 16.1% resulting from lower net impairment charge for credit losses and other financial assets and investments as well as increase in total operating income by 3.2%.The increase in total operating income was mainly due to increase in fee and commission income, net, gains on disposal of non-trading investments, net, special commission income, net partially offset by lower other operating income and exchange income, net
Statement of the type of external auditor's report	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	None
Reclassification of Comparison Items	None
Additional Information	Net Impairment charge for expected credit losses for the year ended 31 December 2021 was SAR 853 million, as compared to SAR 2,106 million for the previous year.

Net impairment charge for expected credit losses for the three months period ended 31 December 2021 was SAR 234 million, as compared to SAR 681 million in the corresponding period of last year and compared to SAR 69 million for the three months period ended 30 September 2021

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.