Riyad Bank — Interim / Quarterly Report 2022

Oct 23, 2022

Riyad Bank announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )

1010 · 23/10/2022 08:24:21 · Announcement #70592 · View on Saudi Exchange

Riyad Bank announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Gross Income from Special Commissions/Financing & Investments	3,527	2,175	62.16	2,867	23.02
Net Income from Special Commissions/Financing & Investments	2,672	1,982	34.81	2,397	11.47
Total Operation Profit (Loss)	3,525	2,817	25.13	3,230	9.13
Net Profit (Loss) before Zakat and Income Tax	2,040	1,727	18.12	1,809	12.77
Net Profit (Loss)	1,828	1,543	18.47	1,611	13.47
Total Comprehensive Income	1,697	1,499	13.21	207	719.81
Total Operating Expenses Before Provisions for Credit and Other Losses	1,174	1,008	16.47	1,064	10.34
Total Provisions (Reversals) for Expected Credit and Other Losses, net	308	69	346.38	353	-12.75
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Gross Income from Special Commissions/Financing & Investments	8,815	6,802	29.59
Net Income from Special Commissions/Financing & Investments	7,201	6,224	15.7
Total Operation Profit (Loss)	9,857	8,619	14.36
Net Profit (Loss) before Zakat and Income Tax	5,593	4,965	12.65
Net Profit (Loss)	4,991	4,408	13.22
Total Comprehensive Income	2,657	4,695	-43.41
Total Share Holders Equity (excluding Non-Controlling Interest)	46,776	46,050	1.58
Assets	347,881	318,657	9.17
Investments	53,246	57,451	-7.32
Loans and Advances Portfolio (Financing & Investment)	241,586	210,482	14.78
Total Operating Expenses Before Provisions for Credit and Other Losses	3,272	3,002	8.99
Total Provisions (Reversals) for Expected Credit and Other Losses, net	917	619	48.14
Clients' deposits	235,892	203,996	15.63
Profit (Loss) per Share	1.64	1.47
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 18.5% mainly due to an increase in total operating income partially offset by an increase in total operating expenses.

The total operating income increased mainly due to an increase in net special commission income, exchange income, fee and commission income, net and other operating income , while there was a drop in gains on disposal of non-trading investments, net, dividend income and trading income, net.

The total operating expenses increase was mainly in impairment charge for credit losses and other financial assets, net, impairment charge for investments, net, other general and administrative expenses ,salaries and employee related expenses and other operating expenses. "The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is "Net income increased by 13.4% mainly due to an increase in total operating income partially offset by increase in total operating expenses.

The total operating income increased mainly due to an increase in net special commission income, exchange income, net and other operating income partially offset by decrease in fee and commission income, net, gains on disposal of non-trading investments, net and dividend income.

The total operating expenses increase was mainly in other general and administrative expenses, salaries and employee-related expenses and other operating expenses partially offset by decrease impairment charge."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 by 13.2% mainly due to an increase in total operating income partially offset by an increase in total operating expenses.

The total operating income increased mainly due to an increase in net special commission income, fee and commission income, net and exchange income while there was a drop in gains on disposal of non-trading investments, net, dividend income and trading income, net.

The total operating expenses increase was mainly in Impairment charge for investments, net, salaries and employee related expenses, impairment charge for credit losses and other financial assets, net and other general and administrative expenses."Statement of the type of external auditor's report Unmodified ConclusionModification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion NoneReclassification of Comparison Items NoneAdditional Information Basic and diluted earnings per share for the periods ended 30 September 2022 is calculated by dividing the net income attributable to common equity holders of the Bank (adjusted for Tier 1 sukuk costs) for the periods by 3,000 million outstanding shares.

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.