Riyadh – Mubasher: The net profits of Riyad Bank increased by 26.49% to SAR 4 billion in the first half (H1) of 2023 from SAR 3.16 billion in H1-22.
Earnings per share (EPS) reached SAR 1.28 during January-June 2023, versus SAR 1.04 in the year-ago period, according to the income statements.
The Saudi lender registered clients’ deposits valued at SAR 272.26 billion during the first six months (6M) of 2023, an annual growth of 14.65% from SAR 237.47 billion.
Assets climbed by 8.74% to SAR 389.23 billion in H1-23 from SAR 357.95 billion in H1-22, while investments went up by 5.32% to SAR 56.38 billion from SAR 53.53 billion.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the bank’s net profits amounted to SAR 1.98 billion, up 23.03% year-on-year (YoY) from SAR 1.61 billion.
On a quarterly basis, the Q2-23 net profits declined by 1.84% from SAR 2.01 billion in Q1-23.
Dividends
Riyad Bank announced cash dividends after zakat worth SAR 1.94 billion, equivalent to 6.50% of the capital, for H1-23.
A dividend of SAR 0.65 per share will be distributed over 2.99 billion eligible shares.
Eligibility and payment dates for the H1-23 dividends will be 27 July and 7 August 2023, respectively.
In Q1-23, the listed bank posted 30.08% YoY higher net profits at SAR 2.01 billion, compared to SAR 1.55 billion.
