Riyad Bank announced its interim consolidated financial results for the period ended 31/03/2013 as follows:
1.Net profits for the first quarter reached SAR 951 million against SAR 901 million for the same quarter of the previous year, an increase of 5.5%, and against SAR 810 million for the previous quarter, an increase of 17.4%.
2.Total operating income for the first quarter reached SAR 1,725 million against SAR 1,644 million for the same quarter of the previous year, an increase of 4.9%.
3.Net special commissions for the first quarter reached SAR 1,090 million against SAR 1,068 million for the same quarter of previous year, an increase of 2.1%.
4. Earnings per share for the three months recorded SAR 0.63 against SAR 0.60 for the same period of the previous year.
5. As of 31/03/2013, total assets reached SAR 186,450 million against SAR 183,393 million for the same period of the previous year, an increase of 1.7%. Loans and Advances, net reached SAR 120,922 million against SAR 113,695 million for the same period of the previous year, an increase of 6.4%. Investments reached SAR 31,989 million against SAR 42,696 million for the same period of the previous year, a decrease of 25.1%. Customer Deposits reached SAR 143,964 million against SAR 139,536 million for the same period of previous year, an increase of 3.2%.
6. The increase in net income for the first quarter compared to same quarter of the previous year is mainly attributed to higher operating income.
7. The increase in net income for the first quarter compared to fourth quarter of last year 2012 is mainly attributed to higher operating income and lower operating costs.
8.Banks Share in earnings of associates, net is shown separately in 2012 while it was part of 2012 Total Operating Income. Total Operating Income of 2012 has been adjusted accordingly.
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