Riyadh – Mubasher: Riyad Bank generated net profits worth SAR 2.07 billion in the first quarter (Q1) of 2024, marking a 2.63% increase from SAR 2.01 billion in Q1-23.
The earnings per share (EPS) stood at SAR 0.66 during the January-March 2024 period, compared with SAR 0.64 in the year-ago quarter, according to the income statement.
The Saudi lender witnessed a 5.31% growth in customer deposits to SAR 270.94 billion in Q1-24 from SAR 257.27 billion in Q1-23.
The assets also soared by 6.36% to SAR 404.85 billion during the three months (3M) ended on 31 March 2024, compared with SAR 380.62 billion in the corresponding period a year earlier.
The investments also rose by 10.91% year-on-year (YoY) to SAR 60.66 billion in Q1-24 from SAR 54.69 billion.
On a quarterly basis, the Q1-24 net profits after Zakat and tax of Riyad Bank were 6.04% higher than SAR 1.95 billion in Q4-23.
In the full year of 2023, the listed lender recorded net profits of SAR 8.04 billion and its assets amounted to SAR 386.84 billion.
