Riyad Bank Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
Riyad Bank announced earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported total revenue for special commissions/investments of SAR 2,161 million against SAR 1,913 million a year ago. Net income for special commission/investment was SAR 1,702 million against SAR 1,539 million a year ago. Total operation profit was SAR 2,281 million against SAR 2,076 million a year ago. Net profit was SAR 1,165 million against SAR 1,077 million a year ago. Net profit were higher because of increase in total operating income by 9.9%, mainly driven by higher net special commission income and fee and commission income, net.
For the nine months, the company reported total revenue for special commissions/investments of SAR 6,052 million against SAR 5,572 million a year ago. Net income for special commission/investment was SAR 4,853 million against SAR 4,437 million a year ago. Total operation profit was SAR 6,584 million against SAR 6,067 million a year ago. Net profit was SAR 3,364 million against SAR 2,972 million a year ago. Profit per share was SAR 1.12 against SAR 0.99 a year ago.