Riyad Bank — Interim / Quarterly Report 2021

Aug 1, 2021

Riyad Bank announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

1010 · 01/08/2021 08:25:54 · Announcement #64307 · View on Saudi Exchange

Riyad Bank announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total income from Special Commissions/Financing & Investments	2,327	2,534	-8.168	2,300	1.173
Net Income from Special Commissions/Financing & Investments	2,146	2,116	1.417	2,096	2.385
Total Operation Profit (Loss)	2,978	2,709	9.929	2,824	5.453
Net Profit (Loss) before Zakat and Income Tax	1,710	1,195	43.096	1,529	11.837
Net Profit (Loss)	1,512	1,063	42.238	1,354	11.669
Total Comprehensive Income	1,823	2,989	-39.009	1,373	32.774
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total income from Special Commissions/Financing & Investments	4,627	5,142	-10.015
Net Income from Special Commissions/Financing & Investments	4,242	4,105	3.337
Total Operation Profit (Loss)	5,802	5,594	3.718
Net Profit (Loss) before Zakat and Income Tax	3,238	2,854	13.454
Net Profit (Loss)	2,865	2,539	12.839
Total Comprehensive Income	3,196	1,864	71.459
Total Share Holders Equity (after Deducting Minority Equity)	44,551	40,786	9.231
Assets	317,266	295,083	7.517
Investments	57,122	53,962	5.855
Loans and Advances Portfolio (Financing & Investment)	204,743	187,651	9.108
Clients' deposits	202,453	199,987	1.233
Profit (Loss) per Share	0.96	0.85
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
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 42.2% mainly due to higher total operating income coupled with lower total operating expenses . Total operating income was higher by 9.9% mainly due to higher fee and commission income,net , gains on disposal of non-trading investments, net and net special commission income, partially offset by lower exchange income, net. The total operating expenses were lower by 16.4% due to lower impairment charge for credit losses and other financial assets, net, partially offset by higher other general and administrative expenses and salaries and employee-related expenses.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	Net income increased by 11.7% mainly due to higher total operating income coupled with slight drop in total operating expenses. Total operating income was higher by 5.5% mainly due to increase in fee and commission income, net, trading gains, net and net special commission income partially offset by decrease in gains on disposal of non-trading investments. Total operating expenses were lower by 1.9 %, driven by a decrease in Impairment charge for investments, net, and other operating expenses partially offset by increase in other general and administrative expenses.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Net income increased by12.8% mainly due to higher total operating income coupled with lower total operating expenses. Total operating income was higher by 3.7% mainly due to higher net special commission income, gains on disposal non trading investments, net, fee and commission, net partially offset by decrease in exchange and trading income, net. The total operating expenses were lower by 7.2%, resulting from lower impairment charge for credit losses and other financial assets,net partially offset by increase in other general and administrative expenses.
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	Impairment charge for credit losses, net for the three months period ended 30 June 2021 was SAR 229 million, as compared to SAR 570 million in the corresponding period of last year( a decrease of 59.8%) and SAR 249 million for the three months ended 31 March 2021 ( a decrease of 8%).

Impairment charge for credit losses, net for the six months period ended 30 June 2021 was SAR 479 million, as compared to SAR 873 million in the corresponding period of previous year(a decrease of 45.2%).

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