Riyad Bank’s H1 2024 profit rises 10% to SAR 4.41B; Q2 at SAR 2.33B

04/08/2024 Argaam Exclusive

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Riyad Bank posted a 10% rise in its H1 2024 net profit to SAR 4.41 billion, compared to SAR 4 billion in the first half of 2023.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Net Special Commission Income	6,197.47	6,147.45	(0.8 %)
Operating Income	7,988.55	8,085.00	1.2 %
Total Provisions	(1065.33)	(839.29)	21.2 %
Net Income	4,001.91	4,410.43	10.2 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	1.33	1.47	10.2 %
EPS Diluted (Riyals)	1.28	1.42	10.9 %

The gross special commission income climbed by 18.3% year-on-year (YoY) in H1 2024, mainly fueled by higher returns on loans as well as increased advances and investments. This came amid the elevated gross operating income and lower gross operating expenses.

During the six-month period, Riyad Bank also witnessed an uptick in net fees and commission income, net foreign exchange income, and lower net losses on the sale of non-traded investments. This was partially offset by lower trading income, net special commission income, dividend income, and other operating income.

The first-half impairment provision for expected credit losses and other losses decreased by 46.2% YoY. This was primarily due to lower net impairment provision for credit losses and other financial assets, and net impairment provision for investments.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Net Special Commission Income	3,109.12	3,096.57	(0.4 %)
Operating Income	3,952.32	3,997.31	1.1 %
Debt Provisions	(484.44)	(403.34)	16.7 %
Net Income	1,982.32	2,337.70	17.9 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	0.66	0.78	17.9 %
EPS Diluted (Riyal)	0.64	0.76	18.7 %

Item	Q1 2024	Q2 2024	Change‬
Net Special Commission Income	3,050.88	3,096.57	1.5 %
Operating Income	4,087.69	3,997.31	(2.2 %)
Debt Provisions	(435.95)	(403.34)	7.5 %
Net Income	2,072.72	2,337.70	12.8 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	0.69	0.78	12.8 %
EPS Diluted (Riyal)	0.66	0.76	15.2 %

In Q2 2024, the bank's net profit amounted to SAR 2.33 billion, up 18% from SAR 1.98 billion in the year-ago period.

Sequentially, net earnings jumped 12.7% from SAR 2.07 billion in the first quarter of the year.

Balance Sheet (B)

Item	6m 2023	6m 2024	Change‬
Assets	389.24	405.03	4.1 %
Customer Deposits	272.27	276.01	1.4 %
Loan	263.15	291.05	10.6 %

Total shareholders' equity (no minority interest) amounted to SAR 55.78 billion as of June 30, 2024, from SAR 51.12 billion a year earlier.

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
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 %)
Q1 2023	3,088.35	44.9 %	4,036.23	30.1 %	(580.89)	(293.4 %)
Q2 2023	3,109.12	29.7 %	3,952.32	22.3 %	(484.44)	(60.7 %)
Q3 2023	3,074.87	15.1 %	3,978.14	12.9 %	(304.20)	(49.5 %)
Q4 2023	3,141.94	10.2 %	3,932.15	5.1 %	(464.46)	(22.9 %)
2023	12,414.28	23.5 %	15,898.84	16.9 %	(1,833.99)	(78.0 %)
Q1 2024	3,050.88	(1.2 %)	4,087.69	1.3 %	(435.95)	25.0 %
Q2 2024	3,096.57	(0.4 %)	3,997.31	1.1 %	(403.34)	16.7 %

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
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 %)
2023	12,414.28	23.5 %	15,898.84	16.9 %	(1,833.99)	(78.0 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
Q1 2023	2,019.59	30.1 %	0.67	-	2,019.59	0.67
Q2 2023	1,982.32	23.0 %	0.66	-	1,982.32	0.66
Q3 2023	2,089.37	14.3 %	0.70	-	2,089.37	0.70
Q4 2023	1,954.56	(3.6 %)	0.65	-	1,954.56	0.65
2023	8,045.84	14.6 %	2.68	-	8,045.84	2.68
Q1 2024	2,072.72	2.6 %	0.69	-	2,072.72	0.69
Q2 2024	2,337.70	17.9 %	0.78	-	2,337.70	0.78

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
2023	8,045.84	14.6 %	2.68	-	8,045.84	2.68

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
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 %
Q1 2023	2.05 %	15.38 %	75.75 %
Q2 2023	2.10 %	16.07 %	76.83 %
Q3 2023	2.24 %	16.63 %	77.18 %
Q4 2023	2.16 %	15.58 %	78.08 %
2023	2.16 %	15.58 %	78.08 %
Q1 2024	2.06 %	15.76 %	77.60 %
Q2 2024	2.13 %	15.82 %	77.30 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
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 %
2023	2.16 %	15.58 %	78.08 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
Q1 2023	380.62	9.2 %	257.28	10.7 %	251.98	7.3 %
Q2 2023	389.24	8.7 %	272.27	14.7 %	263.15	9.8 %
Q3 2023	377.01	8.4 %	254.72	8.0 %	267.15	10.6 %
Q4 2023	386.85	7.6 %	254.91	6.2 %	274.40	13.2 %
Q1 2024	404.86	6.4 %	270.95	5.3 %	282.85	12.3 %
Q2 2024	405.03	4.1 %	276.01	1.4 %	291.05	10.6 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
3m 2023	380.62	9.2 %	257.28	10.7 %	251.98	7.3 %
6m 2023	389.24	8.7 %	272.27	14.7 %	263.15	9.8 %
9m 2023	377.01	8.4 %	254.72	8.0 %	267.15	10.6 %
12m 2023	386.85	7.6 %	254.91	6.2 %	274.40	13.2 %
3m 2024	404.86	6.4 %	270.95	5.3 %	282.85	12.3 %
6m 2024	405.03	4.1 %	276.01	1.4 %	291.05	10.6 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
2023	386.85	7.6 %	254.91	6.2 %	274.40	13.2 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
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 %
Q1 2023	67.59 %	66.20 %	97.94 %
Q2 2023	69.95 %	67.61 %	96.65 %
Q3 2023	67.56 %	70.86 %	104.88 %
Q4 2023	65.89 %	70.93 %	107.65 %
Q1 2024	66.92 %	69.86 %	104.39 %
Q2 2024	68.15 %	71.86 %	105.45 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
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 %
2023	65.89 %	70.93 %	107.65 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
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
Q1 2023	3,000.00	2.50	2.50	2.45	16.42
Q2 2023	3,000.00	2.62	2.62	2.56	17.04
Q3 2023	3,000.00	2.71	2.71	2.63	16.96
Q4 2023	3,000.00	2.68	2.68	2.58	17.90
Q1 2024	3,000.00	2.70	2.70	2.60	17.84
Q2 2024	3,000.00	2.82	2.82	2.72	18.59

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
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
2023	3,000.00	2.68	2.68	2.58	17.90

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q1 2023	12.12	12.12	1.81
Q2 2023	13.14	13.14	1.97
Q3 2023	10.55	10.55	1.64
Q4 2023	11.05	11.05	1.59
Q1 2024	11.31	11.31	1.65
Q2 2024	9.45	9.45	1.38

Period	P/E	Adjusted P/E	Price/book
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
2023	11.05	11.05	1.59

Business Segments (Million)

Compared With The

Period	Corporate and Institutional Banking	Retail	Trade and other business	Investment Banking and Brokerage	Others
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	-
Q1 2023	2,058.53	1,090.83	694.61	192.26	-
Q2 2023	2,135.05	997.33	603.01	216.94	-
Q3 2023	2,135.98	1,022.64	607.01	212.50	-
Q4 2023	2,082.38	998.29	598.92	252.57	-
Q1 2024	2,123.30	1,138.77	553.88	271.75	-
Q2 2024	2,170.75	1,277.00	304.02	245.54	-

Period	Corporate and Institutional Banking	Retail	Trade and other business	Investment Banking and Brokerage	Others
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	-
2023	8,392.84	4,121.57	2,510.15	874.27	-

Analysts Estimates (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change‬
Average	2,069.38	2,337.70	12.97 %

Estimates vs Actual (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change
SNB Capital	2,213.00	2,337.70	5.6 %
Sico	2,121.00	2,337.70	10.2 %
Hermes	2,104.00	2,337.70	11.1 %
United Securities Company	2,092.00	2,337.70	11.7 %
Arqaam Capital	2,058.00	2,337.70	13.6 %
UBS Saudi Arabia	2,050.00	2,337.70	14.0 %
OSOOL AND BAKHEET	2,046.81	2,337.70	14.2 %
FAB Securities	2,036.00	2,337.70	14.8 %
Citi Bank Group	1,989.00	2,337.70	17.5 %
Bank of America	1,984.00	2,337.70	17.8 %

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 H1 2024 profit rises 10% to SAR 4.41B; Q2 at SAR 2.33B

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Financial results (Million)

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Riyad Bank’s H1 2024 profit rises 10% to SAR 4.41B; Q2 at SAR 2.33B

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

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