Riyad Bank announces its interim financial results for the period ending on 2019-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total Revenue for Special Commissions/Investments	2,606	2,022	28.882	2,431	7.198
Net Income for Special Commissions/Investments	1,963	1,629	20.503	1,809	8.512
Total operation Profit (Loss)	2,670	2,173	22.871	2,580	3.488
Net Profit (Loss)	1,500	842	78.147	1,485	1.01
Total Comprehensive Income	1,783	766	132.767	2,011	-11.337
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Revenue for Special Commissions/Investments	5,037	3,891	29.452
Net Income for Special Commissions/Investments	3,772	3,153	19.632
Total operation Profit (Loss)	5,250	4,303	22.007
Net Profit (Loss)	2,985	1,759	69.698
Total Comprehensive Income	3,854	1,577	144.388
Total Share Holders Equity (after deducting minority equity)	39,428	36,935	6.749
Assets	246,116	215,476	14.219
Investments	50,153	47,747	5.039
Loans and advances portfolio	161,324	144,312	11.788
Customer deposits	176,510	153,418	15.051
Profit (Loss) per Share	0.99	0.59
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year	Net income were higher because of increase in total operating income by 22.9%, mainly driven by higher net special commission income, fee and commission income, net and gains on disposals of non-trading investments. The total operating expenses were lower by 10 % due to lower impairment charge for credit losses and other financial assets, net.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter	Net income increased because of higher total operating income by 3.5% mainly due to increase in net special commission income and gains on disposals of non-trading investments partially offset by drop in fee and commission income, net and trading gains, net. The total operating expenses dropped by 3.9% mainly due to higher reversal in impairment for investments, net
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year	Net income increased because of higher total operating income by 22% mainly due to increase in net special commission income and fee and commission income, net, trading gains, net and disposal gains on the non-trading portfolio. The decrease in total operating expenses was about 3.0%
Type of the external auditor's opinion	Unmodified opinion
External auditor's report containing reservation	None
Reclassifications in quarter financial result	Starting from the quarter ended 30 June 2019, Zakat is to be accrued at end of each financial reporting period and recognized in consolidated statement of income with a corresponding liability recognized in the consolidated statement of financial position in accordance with International Financial Reporting Standard (IFRS) and other standards and pronouncements endorsed by SOCPA. In addition to the above, some items have been re-classified.
Additional Information	The income before zakat for the 3 month and 6 month period ended 30 June 2019 was SAR 1,670 million ( 30 June 2018: SAR 1,062 million) and SAR 3,315 million( 30 June 2018: SAR 2,199 million) respectively.

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