Riyad Bank’s profit up 17% to SAR 7.01 bln in 2022; Q4 at SAR 2.02 bln

13/02/2023 Argaam Exclusive

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Riyad Bank reported a 17% rise in 2022 net profit to SAR 7.01 billion, compared to SAR 6.02 billion in 2021, driven by higher total operating income despite being partially offset by increased operating expenses (OpEx).

Financials (M)

Item	2021	2022	Change‬
Net Special Commission Income	8,293.17	10,052.45	21.2 %
Operating Income	11,567.84	13,599.37	17.6 %
Total Provisions	(860.85)	(1030.59)	(19.7 %)
Net Income	6,025.38	7,019.32	16.5 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	2.01	2.34	16.5 %
EPS Diluted (Riyals)	2.01	2.32	15.4 %

The higher total operating income was driven mainly by an increase in net special commission income, fee and commission income, and, net and exchange income. This was partially offset by a drop in gains on disposal of non-trading investments, along with net and dividend income.

Total OpEx increased due to higher net provisions for impairment of investments and credit losses and other financial assets. In addition, the bank also noted an increase in general and administrative expenses, and, salaries and employee related expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Net Special Commission Income	2,069.63	2,851.65	37.8 %
Operating Income	2,949.34	3,742.24	26.9 %
Debt Provisions	(243.52)	(377.88)	(55.2 %)
Net Income	1,617.36	2,027.83	25.4 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	0.54	0.68	25.4 %
EPS Diluted (Riyal)	0.54	0.68	25.9 %

Item	Q3 2022	Q4 2022	Change‬
Net Special Commission Income	2,672.19	2,851.65	6.7 %
Operating Income	3,525.13	3,742.24	6.2 %
Debt Provisions	(203.53)	(377.88)	(85.7 %)
Net Income	1,827.67	2,027.83	11.0 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	0.61	0.68	11.0 %
EPS Diluted (Riyal)	0.60	0.68	13.3 %

In Q4 2022, net profit jumped 25% year-on-year (YoY) to SAR 2.02 billion.

On a sequential basis, net profit increased by 11% from SAR 1.82 billion.

Total shareholders' equity, no minority interest, declined to SAR 46.78 billion as of Dec. 31, 2022, from SAR 47.29 billion a year earlier.

Balance Sheet (B)

Item	2021	2022	Change‬
Assets	325.74	359.65	10.4 %
Customer Deposits	211.68	240.01	13.4 %
Loan	217.29	242.36	11.5 %

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
Q1 2013	1,089.59	2.0 %	1,724.64	4.9 %	(191.13)	(25.0 %)
Q2 2013	1,166.34	6.5 %	1,815.48	0.6 %	(197.21)	49.0 %
Q3 2013	1,214.55	8.7 %	1,738.69	4.3 %	(139.62)	57.3 %
Q4 2013	1,226.52	11.4 %	1,795.22	7.5 %	(99.46)	68.2 %
2013	4,697.00	7.2 %	7,074.02	4.2 %	(627.42)	46.8 %
Q1 2014	1,229.64	12.9 %	1,932.04	12.0 %	(203.77)	(6.6 %)
Q2 2014	1,256.38	7.7 %	2,094.96	15.4 %	(262.98)	(33.3 %)
Q3 2014	1,315.71	8.3 %	1,990.25	14.5 %	(217.40)	(55.7 %)
Q4 2014	1,328.51	8.3 %	1,994.52	11.1 %	(215.92)	(117.1 %)
2014	5,130.24	9.2 %	8,011.77	13.3 %	(900.06)	(43.5 %)
Q1 2015	1,281.74	4.2 %	2,047.81	6.0 %	(127.80)	37.3 %
Q2 2015	1,293.48	3.0 %	1,901.43	(9.2 %)	(315.33)	(19.9 %)
Q3 2015	1,261.05	(4.2 %)	1,862.11	(6.4 %)	(358.11)	(64.7 %)
Q4 2015	1,343.51	1.1 %	1,888.02	(5.3 %)	(229.49)	(6.3 %)
2015	5,179.78	1.0 %	7,699.36	(3.9 %)	(1,030.74)	(14.5 %)
Q1 2016	1,267.32	(1.1 %)	1,786.17	(12.8 %)	(104.82)	18.0 %
Q2 2016	1,360.12	5.2 %	2,026.99	6.6 %	(85.11)	73.0 %
Q3 2016	1,320.55	4.7 %	1,854.88	(0.4 %)	(335.22)	6.4 %
Q4 2016	1,353.05	0.7 %	1,833.24	(2.9 %)	(761.26)	(231.7 %)
2016	5,301.03	2.3 %	7,501.28	(2.6 %)	(1,286.40)	(24.8 %)
Q1 2017	1,425.31	12.5 %	2,007.29	12.4 %	(217.11)	(107.1 %)
Q2 2017	1,473.21	8.3 %	1,983.91	(2.1 %)	(371.45)	(336.4 %)
Q3 2017	1,538.68	16.5 %	2,076.13	11.9 %	(288.12)	14.0 %
Q4 2017	1,497.87	10.7 %	2,057.89	12.3 %	(350.80)	53.9 %
2017	5,935.08	12.0 %	8,125.21	8.3 %	(1,227.49)	4.6 %
Q1 2018	1,523.19	6.9 %	2,129.55	6.1 %	(196.44)	9.5 %
Q2 2018	1,629.57	10.6 %	2,173.53	9.6 %	(328.81)	11.5 %
Q3 2018	1,717.41	11.6 %	2,280.89	9.9 %	(243.09)	15.6 %
Q4 2018	1,758.30	17.4 %	2,383.44	15.8 %	(170.37)	51.4 %
2018	6,628.46	11.7 %	8,967.40	10.4 %	(938.71)	23.5 %
Q1 2019	1,808.72	18.7 %	2,580.14	21.2 %	(162.37)	17.3 %
Q2 2019	1,962.95	20.5 %	2,669.57	22.8 %	(283.05)	13.9 %
Q3 2019	2,034.23	18.4 %	2,762.69	21.1 %	(189.84)	21.9 %
Q4 2019	2,031.12	15.5 %	2,704.66	13.5 %	(334.93)	(96.6 %)
2019	7,837.02	18.2 %	10,717.06	19.5 %	(970.20)	(3.4 %)
Q1 2020	1,989.32	10.0 %	2,885.48	11.8 %	(303.40)	(86.9 %)
Q2 2020	2,115.75	7.8 %	2,708.95	1.5 %	(569.99)	(101.4 %)
Q3 2020	2,072.67	1.9 %	2,820.99	2.1 %	(466.07)	(145.5 %)
Q4 2020	2,035.87	0.2 %	2,789.71	3.1 %	(647.62)	(93.4 %)
2020	8,213.61	4.8 %	11,205.12	4.6 %	(1,987.07)	(104.8 %)
Q1 2021	2,095.80	5.4 %	2,823.83	(2.1 %)	(249.40)	17.8 %
Q2 2021	2,146.02	1.4 %	2,978.09	9.9 %	(229.32)	59.8 %
Q3 2021	1,981.71	(4.4 %)	2,816.58	(0.2 %)	(138.62)	70.3 %
Q4 2021	2,069.63	1.7 %	2,949.34	5.7 %	(243.52)	62.4 %
2021	8,293.17	1.0 %	11,567.84	3.2 %	(860.85)	56.7 %
Q1 2022	2,131.88	1.7 %	3,101.53	9.8 %	(147.66)	40.8 %
Q2 2022	2,396.73	11.7 %	3,230.47	8.5 %	(301.53)	(31.5 %)
Q3 2022	2,672.19	34.8 %	3,525.13	25.2 %	(203.53)	(46.8 %)
Q4 2022	2,851.65	37.8 %	3,742.24	26.9 %	(377.88)	(55.2 %)
2022	10,052.45	21.2 %	13,599.37	17.6 %	(1,030.59)	(19.7 %)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
2013	4,697.00	7.2 %	7,074.02	4.2 %	(627.42)	46.8 %
2014	5,130.24	9.2 %	8,011.77	13.3 %	(900.06)	(43.5 %)
2015	5,179.78	1.0 %	7,699.36	(3.9 %)	(1,030.74)	(14.5 %)
2016	5,301.03	2.3 %	7,501.28	(2.6 %)	(1,286.40)	(24.8 %)
2017	5,935.08	12.0 %	8,125.21	8.3 %	(1,227.49)	4.6 %
2018	6,628.46	11.7 %	8,967.40	10.4 %	(938.71)	23.5 %
2019	7,837.02	18.2 %	10,717.06	19.5 %	(970.20)	(3.4 %)
2020	8,213.61	4.8 %	11,205.12	4.6 %	(1,987.07)	(104.8 %)
2021	8,293.17	1.0 %	11,567.84	3.2 %	(860.85)	56.7 %
2022	10,052.45	21.2 %	13,599.37	17.6 %	(1,030.59)	(19.7 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	950.98	5.5 %	0.32	-	950.98	0.32
Q2 2013	967.91	5.9 %	0.32	-	967.91	0.32
Q3 2013	997.93	18.8 %	0.33	-	997.93	0.33
Q4 2013	1,030.29	27.2 %	0.34	-	1,030.29	0.34
2013	3,947.11	13.9 %	1.32	-	3,947.11	1.32
Q1 2014	1,079.45	13.5 %	0.36	-	1,079.45	0.36
Q2 2014	1,136.26	17.4 %	0.38	-	1,136.26	0.38
Q3 2014	1,076.29	7.9 %	0.36	-	1,076.29	0.36
Q4 2014	1,060.41	2.9 %	0.35	-	1,060.41	0.35
2014	4,352.41	10.3 %	1.45	-	4,352.41	1.45
Q1 2015	1,171.60	8.5 %	0.39	-	1,171.60	0.39
Q2 2015	1,128.23	(0.7 %)	0.38	266.60	861.63	0.29
Q3 2015	898.55	(16.5 %)	0.30	-	898.55	0.30
Q4 2015	851.10	(19.7 %)	0.28	-	851.10	0.28
2015	4,049.48	(7.0 %)	1.35	266.60	3,782.88	1.26
Q1 2016	1,173.72	0.2 %	0.39	201.00	972.72	0.32
Q2 2016	1,145.98	1.6 %	0.38	-	1,145.98	0.38
Q3 2016	729.43	(18.8 %)	0.24	-	729.43	0.24
Q4 2016	293.37	(65.5 %)	0.10	-	293.37	0.10
2016	3,342.49	(17.5 %)	1.11	201.00	3,141.49	1.05
Q1 2017	1,047.36	(10.8 %)	0.35	-	1,047.36	0.35
Q2 2017	847.92	(26.0 %)	0.28	-	847.92	0.28
Q3 2017	1,076.85	47.6 %	0.36	-	1,076.85	0.36
Q4 2017	973.88	232.0 %	0.32	-	973.88	0.32
2017	3,946.00	18.1 %	1.32	-	3,946.00	1.32
Q1 2018	916.83	(12.5 %)	0.31	-	916.83	0.31
Q2 2018	842.49	(0.6 %)	0.28	-	842.49	0.28
Q3 2018	945.01	(12.2 %)	0.32	-	945.01	0.32
Q4 2018	387.75	(60.2 %)	0.13	(744.00)	1,131.75	0.38
2018	3,092.09	(21.6 %)	1.03	(744.00)	3,836.09	1.28
Q1 2019	1,484.79	61.9 %	0.49	-	1,484.79	0.49
Q2 2019	1,499.75	78.0 %	0.50	-	1,499.75	0.50
Q3 2019	1,506.35	59.4 %	0.50	-	1,506.35	0.50
Q4 2019	1,111.18	186.6 %	0.37	-	1,111.18	0.37
2019	5,602.07	81.2 %	1.87	-	5,602.07	1.87
Q1 2020	1,476.43	(0.6 %)	0.49	-	1,476.43	0.49
Q2 2020	1,063.05	(29.1 %)	0.35	-	1,063.05	0.35
Q3 2020	1,295.98	(14.0 %)	0.43	-	1,295.98	0.43
Q4 2020	879.54	(20.8 %)	0.29	-	879.54	0.29
2020	4,715.00	(15.8 %)	1.57	-	4,715.00	1.57
Q1 2021	1,353.62	(8.3 %)	0.45	-	1,353.62	0.45
Q2 2021	1,511.60	42.2 %	0.50	-	1,511.60	0.50
Q3 2021	1,542.81	19.0 %	0.51	-	1,542.81	0.51
Q4 2021	1,617.36	83.9 %	0.54	-	1,617.36	0.54
2021	6,025.38	27.8 %	2.01	-	6,025.38	2.01
Q1 2022	1,552.59	14.7 %	0.52	-	1,552.59	0.52
Q2 2022	1,611.23	6.6 %	0.54	-	1,611.23	0.54
Q3 2022	1,827.67	18.5 %	0.61	-	1,827.67	0.61
Q4 2022	2,027.83	25.4 %	0.68	-	2,027.83	0.68
2022	7,019.32	16.5 %	2.34	-	7,019.32	2.34

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	3,947.11	13.9 %	1.32	-	3,947.11	1.32
2014	4,352.41	10.3 %	1.45	-	4,352.41	1.45
2015	4,049.48	(7.0 %)	1.35	266.60	3,782.88	1.26
2016	3,342.49	(17.5 %)	1.11	201.00	3,141.49	1.05
2017	3,946.00	18.1 %	1.32	-	3,946.00	1.32
2018	3,092.09	(21.6 %)	1.03	(744.00)	3,836.09	1.28
2019	5,602.07	81.2 %	1.87	-	5,602.07	1.87
2020	4,715.00	(15.8 %)	1.57	-	4,715.00	1.57
2021	6,025.38	27.8 %	2.01	-	6,025.38	2.01
2022	7,019.32	16.5 %	2.34	-	7,019.32	2.34

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
Q1 2013	1.90 %	11.31 %	64.11 %
Q2 2013	1.92 %	11.40 %	65.04 %
Q3 2013	1.97 %	11.72 %	65.78 %
Q4 2013	2.00 %	11.99 %	66.40 %
2013	2.00 %	11.99 %	66.40 %
Q1 2014	2.05 %	12.43 %	66.43 %
Q2 2014	2.09 %	12.97 %	65.17 %
Q3 2014	2.06 %	12.82 %	64.36 %
Q4 2014	2.07 %	12.54 %	64.03 %
2014	2.07 %	12.54 %	64.03 %
Q1 2015	2.08 %	12.61 %	63.76 %
Q2 2015	2.03 %	12.61 %	65.79 %
Q3 2015	1.96 %	12.06 %	66.17 %
Q4 2015	1.85 %	11.24 %	67.28 %
2015	1.85 %	11.24 %	67.28 %
Q1 2016	1.83 %	10.95 %	69.45 %
Q2 2016	1.81 %	11.00 %	69.18 %
Q3 2016	1.77 %	10.71 %	70.03 %
Q4 2016	1.52 %	9.09 %	70.67 %
2016	1.52 %	9.09 %	70.67 %
Q1 2017	1.45 %	8.67 %	70.69 %
Q2 2017	1.31 %	7.88 %	72.56 %
Q3 2017	1.48 %	8.74 %	73.29 %
Q4 2017	1.82 %	10.44 %	73.05 %
2017	1.82 %	10.44 %	73.05 %
Q1 2018	1.77 %	10.43 %	73.15 %
Q2 2018	1.75 %	10.36 %	73.36 %
Q3 2018	1.66 %	9.89 %	73.69 %
Q4 2018	1.39 %	8.20 %	73.92 %
2018	1.39 %	8.20 %	73.92 %
Q1 2019	1.62 %	9.92 %	73.41 %
Q2 2019	1.87 %	11.31 %	73.10 %
Q3 2019	2.05 %	12.84 %	72.76 %
Q4 2019	2.26 %	14.49 %	73.13 %
2019	2.26 %	14.49 %	73.13 %
Q1 2020	2.15 %	14.83 %	72.74 %
Q2 2020	1.91 %	12.86 %	73.86 %
Q3 2020	1.77 %	12.08 %	73.82 %
Q4 2020	1.64 %	11.10 %	73.30 %
2020	1.64 %	11.10 %	73.30 %
Q1 2021	1.56 %	11.20 %	74.66 %
Q2 2021	1.65 %	11.81 %	73.17 %
Q3 2021	1.69 %	11.92 %	72.40 %
Q4 2021	1.90 %	13.15 %	71.69 %
2021	1.90 %	13.15 %	71.69 %
Q1 2022	1.90 %	13.49 %	70.32 %
Q2 2022	1.87 %	13.87 %	70.92 %
Q3 2022	1.98 %	14.24 %	72.39 %
Q4 2022	2.05 %	14.49 %	73.92 %
2022	2.05 %	14.49 %	73.92 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
2013	2.00 %	11.99 %	66.40 %
2014	2.07 %	12.54 %	64.03 %
2015	1.85 %	11.24 %	67.28 %
2016	1.52 %	9.09 %	70.67 %
2017	1.82 %	10.44 %	73.05 %
2018	1.39 %	8.20 %	73.92 %
2019	2.26 %	14.49 %	73.13 %
2020	1.64 %	11.10 %	73.30 %
2021	1.90 %	13.15 %	71.69 %
2022	2.05 %	14.49 %	73.92 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
Q1 2013	186.45	1.7 %	143.96	3.2 %	120.92	6.4 %
Q2 2013	191.63	6.1 %	147.88	7.9 %	126.19	9.6 %
Q3 2013	201.80	13.9 %	154.19	14.3 %	129.90	12.7 %
Q4 2013	205.25	7.9 %	153.20	4.8 %	131.19	11.7 %
Q1 2014	211.41	13.4 %	159.95	11.1 %	136.77	13.1 %
Q2 2014	213.99	11.7 %	160.10	8.3 %	140.77	11.6 %
Q3 2014	217.07	7.6 %	161.64	4.8 %	140.70	8.3 %
Q4 2014	214.59	4.6 %	164.08	7.1 %	133.49	1.8 %
Q1 2015	216.53	2.4 %	165.02	3.2 %	138.04	0.9 %
Q2 2015	222.48	4.0 %	167.07	4.4 %	137.10	(2.6 %)
Q3 2015	216.98	0.0 %	161.12	(0.3 %)	138.46	(1.6 %)
Q4 2015	223.32	4.1 %	167.85	2.3 %	145.07	8.7 %
Q1 2016	227.00	4.8 %	165.76	0.4 %	152.56	10.5 %
Q2 2016	227.78	2.4 %	164.04	(1.8 %)	154.67	12.8 %
Q3 2016	223.47	3.0 %	160.82	(0.2 %)	152.63	10.2 %
Q4 2016	217.62	(2.6 %)	156.68	(6.7 %)	142.91	(1.5 %)
Q1 2017	216.32	(4.7 %)	154.19	(7.0 %)	140.92	(7.6 %)
Q2 2017	218.99	(3.9 %)	156.98	(4.3 %)	141.18	(8.7 %)
Q3 2017	218.22	(2.3 %)	156.05	(3.0 %)	142.07	(6.9 %)
Q4 2017	216.28	(0.6 %)	154.37	(1.5 %)	138.84	(2.8 %)
Q1 2018	213.67	(1.2 %)	151.92	(1.5 %)	141.22	0.2 %
Q2 2018	215.48	(1.6 %)	153.42	(2.3 %)	144.31	2.2 %
Q3 2018	225.97	3.5 %	159.24	2.0 %	145.76	2.6 %
Q4 2018	229.90	6.3 %	169.82	10.0 %	151.02	8.8 %
Q1 2019	239.52	12.1 %	173.49	14.2 %	158.24	12.1 %
Q2 2019	246.12	14.2 %	176.51	15.1 %	161.32	11.8 %
Q3 2019	250.57	10.9 %	177.67	11.6 %	166.28	14.1 %
Q4 2019	265.79	15.6 %	194.52	14.5 %	173.98	15.2 %
Q1 2020	279.70	16.8 %	192.90	11.2 %	182.78	15.5 %
Q2 2020	295.08	19.9 %	199.99	13.3 %	187.65	16.3 %
Q3 2020	308.56	23.1 %	201.29	13.3 %	190.82	14.8 %
Q4 2020	310.09	16.7 %	203.04	4.4 %	191.35	10.0 %
Q1 2021	308.04	10.1 %	198.60	3.0 %	196.44	7.5 %
Q2 2021	317.27	7.5 %	202.45	1.2 %	204.74	9.1 %
Q3 2021	318.66	3.3 %	204.00	1.3 %	210.48	10.3 %
Q4 2021	325.74	5.0 %	211.68	4.3 %	217.29	13.6 %
Q1 2022	348.47	13.1 %	232.42	17.0 %	234.79	19.5 %
Q2 2022	357.95	12.8 %	237.48	17.3 %	239.65	17.0 %
Q3 2022	347.88	9.2 %	235.89	15.6 %	241.59	14.8 %
Q4 2022	359.65	10.4 %	240.01	13.4 %	242.36	11.5 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
3m 2013	186.45	1.7 %	143.96	3.2 %	120.92	6.4 %
6m 2013	191.63	6.1 %	147.88	7.9 %	126.19	9.6 %
9m 2013	201.80	13.9 %	154.19	14.3 %	129.90	12.7 %
12m 2013	205.25	7.9 %	153.20	4.8 %	131.19	11.7 %
3m 2014	211.41	13.4 %	159.95	11.1 %	136.77	13.1 %
6m 2014	213.99	11.7 %	160.10	8.3 %	140.77	11.6 %
9m 2014	217.07	7.6 %	161.64	4.8 %	140.70	8.3 %
12m 2014	214.59	4.6 %	164.08	7.1 %	133.49	1.8 %
3m 2015	216.53	2.4 %	165.02	3.2 %	138.04	0.9 %
6m 2015	222.48	4.0 %	167.07	4.4 %	137.10	(2.6 %)
9m 2015	216.98	0.0 %	161.12	(0.3 %)	138.46	(1.6 %)
12m 2015	223.32	4.1 %	167.85	2.3 %	145.07	8.7 %
3m 2016	227.00	4.8 %	165.76	0.4 %	152.56	10.5 %
6m 2016	227.78	2.4 %	164.04	(1.8 %)	154.67	12.8 %
9m 2016	223.47	3.0 %	160.82	(0.2 %)	152.63	10.2 %
12m 2016	217.62	(2.6 %)	156.68	(6.7 %)	142.91	(1.5 %)
3m 2017	216.32	(4.7 %)	154.19	(7.0 %)	140.92	(7.6 %)
6m 2017	218.99	(3.9 %)	156.98	(4.3 %)	141.18	(8.7 %)
9m 2017	218.22	(2.3 %)	156.05	(3.0 %)	142.07	(6.9 %)
12m 2017	216.28	(0.6 %)	154.37	(1.5 %)	138.84	(2.8 %)
3m 2018	213.67	(1.2 %)	151.92	(1.5 %)	141.22	0.2 %
6m 2018	215.48	(1.6 %)	153.42	(2.3 %)	144.31	2.2 %
9m 2018	225.97	3.5 %	159.24	2.0 %	145.76	2.6 %
12m 2018	229.90	6.3 %	169.82	10.0 %	151.02	8.8 %
3m 2019	239.52	12.1 %	173.49	14.2 %	158.24	12.1 %
6m 2019	246.12	14.2 %	176.51	15.1 %	161.32	11.8 %
9m 2019	250.57	10.9 %	177.67	11.6 %	166.28	14.1 %
12m 2019	265.79	15.6 %	194.52	14.5 %	173.98	15.2 %
3m 2020	279.70	16.8 %	192.90	11.2 %	182.78	15.5 %
6m 2020	295.08	19.9 %	199.99	13.3 %	187.65	16.3 %
9m 2020	308.56	23.1 %	201.29	13.3 %	190.82	14.8 %
12m 2020	310.09	16.7 %	203.04	4.4 %	191.35	10.0 %
3m 2021	308.04	10.1 %	198.60	3.0 %	196.44	7.5 %
6m 2021	317.27	7.5 %	202.45	1.2 %	204.74	9.1 %
9m 2021	318.66	3.3 %	204.00	1.3 %	210.48	10.3 %
12m 2021	325.74	5.0 %	211.68	4.3 %	217.29	13.6 %
3m 2022	348.47	13.1 %	232.42	17.0 %	234.79	19.5 %
6m 2022	357.95	12.8 %	237.48	17.3 %	239.65	17.0 %
9m 2022	347.88	9.2 %	235.89	15.6 %	241.59	14.8 %
12m 2022	359.65	10.4 %	240.01	13.4 %	242.36	11.5 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
2013	205.25	7.9 %	153.20	4.8 %	131.19	11.7 %
2014	214.59	4.6 %	164.08	7.1 %	133.49	1.8 %
2015	223.32	4.1 %	167.85	2.3 %	145.07	8.7 %
2016	217.62	(2.6 %)	156.68	(6.7 %)	142.91	(1.5 %)
2017	216.28	(0.6 %)	154.37	(1.5 %)	138.84	(2.8 %)
2018	229.90	6.3 %	169.82	10.0 %	151.02	8.8 %
2019	265.79	15.6 %	194.52	14.5 %	173.98	15.2 %
2020	310.09	16.7 %	203.04	4.4 %	191.35	10.0 %
2021	325.74	5.0 %	211.68	4.3 %	217.29	13.6 %
2022	359.65	10.4 %	240.01	13.4 %	242.36	11.5 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
Q1 2013	77.21 %	64.85 %	83.99 %
Q2 2013	77.17 %	65.85 %	85.33 %
Q3 2013	76.41 %	64.37 %	84.25 %
Q4 2013	74.64 %	63.92 %	85.63 %
Q1 2014	75.66 %	64.70 %	85.51 %
Q2 2014	74.82 %	65.78 %	87.93 %
Q3 2014	74.47 %	64.82 %	87.05 %
Q4 2014	76.46 %	62.21 %	81.36 %
Q1 2015	76.21 %	63.75 %	83.65 %
Q2 2015	75.10 %	61.62 %	82.06 %
Q3 2015	74.26 %	63.82 %	85.94 %
Q4 2015	75.16 %	64.96 %	86.42 %
Q1 2016	73.02 %	67.21 %	92.04 %
Q2 2016	72.02 %	67.90 %	94.28 %
Q3 2016	71.96 %	68.30 %	94.91 %
Q4 2016	72.00 %	65.67 %	91.21 %
Q1 2017	71.28 %	65.14 %	91.39 %
Q2 2017	71.68 %	64.47 %	89.94 %
Q3 2017	71.51 %	65.10 %	91.04 %
Q4 2017	71.37 %	64.19 %	89.94 %
Q1 2018	71.10 %	66.09 %	92.96 %
Q2 2018	71.20 %	66.97 %	94.06 %
Q3 2018	70.47 %	64.51 %	91.53 %
Q4 2018	73.87 %	65.69 %	88.93 %
Q1 2019	72.43 %	66.07 %	91.21 %
Q2 2019	71.72 %	65.55 %	91.40 %
Q3 2019	70.91 %	66.36 %	93.59 %
Q4 2019	73.19 %	65.46 %	89.44 %
Q1 2020	68.97 %	65.35 %	94.75 %
Q2 2020	67.77 %	63.59 %	93.83 %
Q3 2020	65.24 %	61.84 %	94.80 %
Q4 2020	65.48 %	61.71 %	94.24 %
Q1 2021	64.47 %	63.77 %	98.91 %
Q2 2021	63.81 %	64.53 %	101.13 %
Q3 2021	64.02 %	66.05 %	103.18 %
Q4 2021	64.98 %	66.71 %	102.65 %
Q1 2022	66.70 %	67.38 %	101.02 %
Q2 2022	66.34 %	66.95 %	100.92 %
Q3 2022	67.81 %	69.44 %	102.41 %
Q4 2022	66.73 %	67.39 %	100.98 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
2013	74.64 %	63.92 %	85.63 %
2014	76.46 %	62.21 %	81.36 %
2015	75.16 %	64.96 %	86.42 %
2016	72.00 %	65.67 %	91.21 %
2017	71.37 %	64.19 %	89.94 %
2018	73.87 %	65.69 %	88.93 %
2019	73.19 %	65.46 %	89.44 %
2020	65.48 %	61.71 %	94.24 %
2021	64.98 %	66.71 %	102.65 %
2022	66.73 %	67.39 %	100.98 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2013	3,000.00	1.17	1.17	-	10.61
Q2 2013	3,000.00	1.19	1.19	-	10.54
Q3 2013	3,000.00	1.24	1.24	-	10.85
Q4 2013	3,000.00	1.32	1.32	-	11.29
Q1 2014	3,000.00	1.36	1.36	-	11.25
Q2 2014	3,000.00	1.41	1.41	-	11.27
Q3 2014	3,000.00	1.44	1.44	-	11.62
Q4 2014	3,000.00	1.45	1.45	1.45	11.85
Q1 2015	3,000.00	1.48	1.48	1.48	12.25
Q2 2015	3,000.00	1.48	1.39	1.48	12.19
Q3 2015	3,000.00	1.42	1.33	1.42	11.92
Q4 2015	3,000.00	1.35	1.26	1.35	12.18
Q1 2016	3,000.00	1.35	1.19	1.35	12.42
Q2 2016	3,000.00	1.36	1.29	1.35	12.47
Q3 2016	3,000.00	1.30	1.23	1.29	12.35
Q4 2016	3,000.00	1.11	1.05	1.10	12.32
Q1 2017	3,000.00	1.07	1.07	1.06	12.32
Q2 2017	3,000.00	0.97	0.97	0.96	12.21
Q3 2017	3,000.00	1.09	1.09	1.08	12.56
Q4 2017	3,000.00	1.32	1.32	1.32	12.87
Q1 2018	3,000.00	1.27	1.27	1.35	12.06
Q2 2018	3,000.00	1.27	1.27	1.35	12.31
Q3 2018	3,000.00	1.23	1.23	1.31	12.25
Q4 2018	3,000.00	1.03	1.28	1.11	12.26
Q1 2019	3,000.00	1.22	1.47	1.22	12.55
Q2 2019	3,000.00	1.44	1.69	1.44	13.14
Q3 2019	3,000.00	1.63	1.87	1.62	13.08
Q4 2019	3,000.00	1.87	1.87	1.86	13.52
Q1 2020	3,000.00	1.86	1.86	1.86	12.60
Q2 2020	3,000.00	1.72	1.72	1.71	13.60
Q3 2020	3,000.00	1.65	1.65	1.64	14.22
Q4 2020	3,000.00	1.57	1.57	1.56	14.79
Q1 2021	3,000.00	1.53	1.53	1.52	14.74
Q2 2021	3,000.00	1.68	1.68	1.67	14.85
Q3 2021	3,000.00	1.76	1.76	1.75	15.35
Q4 2021	3,000.00	2.01	2.01	2.00	15.77
Q1 2022	3,000.00	2.07	2.07	2.06	16.02
Q2 2022	3,000.00	2.11	2.11	2.09	15.55
Q3 2022	3,000.00	2.20	2.20	2.18	15.59
Q4 2022	3,000.00	2.34	2.34	2.32	16.53

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2013	3,000.00	1.32	1.32	-	11.29
2014	3,000.00	1.45	1.45	1.45	11.85
2015	3,000.00	1.35	1.26	1.35	12.18
2016	3,000.00	1.11	1.05	1.11	12.32
2017	3,000.00	1.32	1.32	1.32	12.87
2018	3,000.00	1.03	1.28	1.03	12.26
2019	3,000.00	1.87	1.87	1.87	13.52
2020	3,000.00	1.57	1.57	1.57	14.79
2021	3,000.00	2.01	2.01	2.01	15.77
2022	3,000.00	2.34	2.34	2.32	16.53

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	9.77	9.77	1.08
Q2 2013	10.46	10.46	1.18
Q3 2013	10.59	10.59	1.21
Q4 2013	11.10	11.10	1.29
Q1 2014	12.84	12.84	1.55
Q2 2014	12.69	12.69	1.59
Q3 2014	14.65	14.65	1.82
Q4 2014	11.72	11.72	1.43
Q1 2015	11.36	11.36	1.37
Q2 2015	11.26	11.98	1.37
Q3 2015	9.87	10.53	1.18
Q4 2015	9.20	9.85	1.02
Q1 2016	8.33	9.42	0.91
Q2 2016	8.10	8.52	0.88
Q3 2016	7.76	8.18	0.81
Q4 2016	10.50	11.17	0.94
Q1 2017	9.94	9.94	0.86
Q2 2017	11.40	11.40	0.90
Q3 2017	10.88	10.88	0.94
Q4 2017	9.47	9.47	0.97
Q1 2018	10.27	10.27	1.15
Q2 2018	12.04	12.04	1.32
Q3 2018	12.69	12.69	1.36
Q4 2018	17.86	14.39	1.62
Q1 2019	19.75	16.42	1.92
Q2 2019	18.72	15.96	2.05
Q3 2019	15.06	13.07	1.87
Q4 2019	12.90	12.90	1.77
Q1 2020	8.04	8.04	1.19
Q2 2020	9.86	9.86	1.24
Q3 2020	11.37	11.37	1.31
Q4 2020	12.95	12.95	1.37
Q1 2021	14.76	14.76	1.52
Q2 2021	15.87	15.87	1.78
Q3 2021	15.43	15.43	1.76
Q4 2021	13.55	13.55	1.72
Q1 2022	18.23	18.23	2.34
Q2 2022	15.36	15.36	2.06
Q3 2022	14.56	14.56	2.04
Q4 2022	13.71	13.71	1.92

Period	P/E	Adjusted P/E	Price/book
2013	11.10	11.10	1.29
2014	11.72	11.72	1.43
2015	9.20	9.85	1.02
2016	10.41	11.07	0.94
2017	9.47	9.47	0.97
2018	19.24	15.51	1.62
2019	12.83	12.83	1.77
2020	12.87	12.87	1.37
2021	13.48	13.48	1.72
2022	13.71	13.71	1.92

Business Segments (Million)

Compared With The

Period	Corporate and Institutional Banking	Retail	Trade and other business	Investment Banking and Brokerage	Others
Q1 2013	742.94	526.07	318.13	86.74	50.77
Q2 2013	832.84	629.02	258.35	88.54	6.73
Q3 2013	791.26	604.78	255.57	84.63	2.45
Q4 2013	845.08	613.48	209.64	92.89	34.14
Q1 2014	923.48	587.96	269.14	92.29	59.18
Q2 2014	889.64	681.85	334.94	113.23	75.32
Q3 2014	858.09	615.03	349.86	102.37	64.91
Q4 2014	950.36	617.23	242.76	100.75	83.42
Q1 2015	939.86	652.58	326.35	92.89	36.12
Q2 2015	886.75	658.54	251.82	103.87	267.05
Q3 2015	783.54	635.58	374.95	73.52	(5.48)
Q4 2015	758.45	785.92	177.09	92.85	73.72
Q1 2016	784.82	646.82	173.87	71.64	310.02
Q2 2016	689.06	645.57	418.92	81.80	191.64
Q3 2016	678.28	541.65	360.81	60.72	213.42
Q4 2016	711.12	487.81	281.76	68.43	284.12
Q1 2017	841.43	651.85	446.76	67.25	-
Q2 2017	888.49	648.55	366.37	80.51	-
Q3 2017	895.84	679.78	423.44	77.07	-
Q4 2017	845.40	694.78	439.93	77.78	-
Q1 2018	820.77	714.54	505.55	88.69	-
Q2 2018	837.53	720.71	529.62	85.68	-
Q3 2018	857.56	741.72	587.16	94.44	-
Q4 2018	1,036.97	1,020.89	214.08	111.49	-
Q1 2019	1,048.27	785.09	641.41	105.38	-
Q2 2019	1,128.27	964.07	440.48	136.75	-
Q3 2019	1,086.78	984.87	551.55	139.49	-
Q4 2019	975.68	985.51	536.51	206.96	-
Q1 2020	1,081.78	964.01	696.86	142.84	-
Q2 2020	1,052.17	870.68	615.42	170.68	-
Q3 2020	1,160.71	958.91	509.11	192.27	-
Q4 2020	1,006.93	950.85	570.81	261.01	-
Q1 2021	1,104.71	922.74	588.82	207.56	-
Q2 2021	1,144.65	979.06	635.58	218.80	-
Q3 2021	954.48	959.05	723.01	180.05	-
Q4 2021	1,110.56	886.17	586.12	366.48	-
Q1 2022	1,182.29	1,010.37	636.27	272.61	-
Q2 2022	1,358.27	1,103.49	541.60	227.11	-
Q3 2022	2,083.89	1,083.46	125.21	232.56	-
Q4 2022	1,737.37	957.65	752.66	294.56	-

Period	Corporate and Institutional Banking	Retail	Trade and other business	Investment Banking and Brokerage	Others
2013	3,212.11	2,373.35	1,041.68	352.79	94.09
2014	3,621.56	2,502.06	1,196.69	408.64	282.82
2015	3,368.60	2,732.62	1,130.21	363.13	371.41
2016	2,863.27	2,321.85	1,235.36	282.60	999.20
2017	3,471.16	2,674.96	1,676.49	302.60	-
2018	3,576.04	3,197.39	1,814.14	379.83	-
2019	4,239.01	3,719.54	2,169.95	588.57	-
2020	4,301.58	3,744.44	2,392.19	766.80	-
2021	4,314.40	3,747.02	2,533.53	972.89	-
2022	6,361.82	4,154.97	2,055.74	1,026.84	-

Analysts Estimates (Million)

Item	Q4 2022 (e)	Q4 2022 (a)	Change‬
Average	1,841.41	2,027.83	10.12 %

Estimates vs Actual (Million)

Item	Q4 2022 (e)	Q4 2022 (a)	Change
OSOOL AND BAKHEET	2,043.04	2,027.83	(0.7) %
Hermes	1,834.00	2,027.83	10.6 %
Sico	1,782.00	2,027.83	13.8 %
FAB Securities	1,778.00	2,027.83	14.1 %
Goldman Sachs	1,770.00	2,027.83	14.6 %

Financial Ratios

	Current
Market Cap (M Riyal)	80,100.00
Shares Outstanding ((M))	3,000.00
EPS ( Riyal) (TTM)	3.01
EPS Diluted ( Riyal) (TTM)	2.91
Book Value (BV) ( Riyal)	18.86
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	8.88
P/E (TTM)	8.88
Price/book	1.42
Return on Average Assets (%) (TTM)	2.2
Return on Average Equity (%) (TTM)	16.8

Riyad Bank (RIBL)

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Riyad Bank’s profit up 17% to SAR 7.01 bln in 2022; Q4 at SAR 2.02 bln

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Riyad Bank’s profit up 17% to SAR 7.01 bln in 2022; Q4 at SAR 2.02 bln

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

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Profit Performance (Million)

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Profitability

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