Riyadh – Mubasher: The net profits of Riyad Bank increased by 10.20% year-on-year (YoY) to SAR 4.41 billion in the first half (H1) of 2024 from SAR 4 billion.
Earnings per share (EPS) amounted to SAR 1.42 as of 30 June 2024, versus SAR 1.28 in H1-23, according to the interim financials.
The lender posted clients' deposits valued at SAR 276 billion in the first six months (6M) of 2024, up 1.37% YoY from SAR 272.26 billion.
Assets grew by 4.05% to SAR 405.02 billion in H1-24 from SAR 389.23 billion a year earlier, while the investments climbed by 8.30% to SAR 61.07 billion from SAR 56.38 billion.
Financials for Q2-24
In the second quarter (Q2) of 2024, the Saudi lender's net profits reached SAR 2.33 billion, an annual growth of 17.92% from SAR 1.98 billion.
Quarterly, the Q2-24 net profits hiked by 12.78% from SAR 2.07 billion in January-March 2024.
