Riyad Bank’s 9M 2024 profit up 16% to SAR 7.06B; Q3 at SAR 2.65B

21/10/2024 Argaam Exclusive

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Riyad Bank reported a 16% jump in net profit to SAR 7.06 billion for the first nine months of 2024, compared to SAR 6.09 billion in the prior-year period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Net Special Commission Income	9,272.34	9,440.81	1.8 %
Operating Income	11,966.69	12,629.89	5.5 %
Total Provisions	(1369.53)	(1120.77)	18.2 %
Net Income	6,091.28	7,064.51	16.0 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	2.03	2.35	16.0 %
EPS Diluted (Riyals)	1.95	2.28	16.9 %

Special commission income increased by 17.8% year-on-year (YoY) mainly due to an increase in special commission income from loans and advances, due from banks and investments.

Total operating income increase was mainly due to an increase in fee and net commission income, net special commission income, net exchange income, net trading income, net gains /losses on disposal of non-trading investments, and dividend income.

This was partially offset by a decrease in other operating income mainly in impairment charge for credit losses and other financial assets, impairment charge for investments, other general and administrative expenses, depreciation of property, equipment and right of use assets, and rent and premises-related expenses, partially offset by higher salaries and employee related expenses, and other operating expenses.

Net provision of expected credit losses and other losses decreased by 39.7% YoY due to lower net impairment charge of credit losses and other financial assets, and net impairment charge for investments.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Net Special Commission Income	3,074.87	3,293.36	7.1 %
Operating Income	3,978.14	4,544.90	14.2 %
Debt Provisions	(304.20)	(281.48)	7.5 %
Net Income	2,089.37	2,654.09	27.0 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	0.70	0.88	27.0 %
EPS Diluted (Riyal)	0.67	0.86	28.4 %

Item	Q2 2024	Q3 2024	Change‬
Net Special Commission Income	3,096.57	3,293.36	6.4 %
Operating Income	3,997.31	4,544.90	13.7 %
Debt Provisions	(403.34)	(281.48)	30.2 %
Net Income	2,337.70	2,654.09	13.5 %
Average Shares	3,000.00	3,000.00	-
EPS (Riyals)	0.78	0.88	13.5 %
EPS Diluted (Riyal)	0.76	0.86	13.2 %

The third-quarter net profit jumped 27% YoY to SAR 2.65 billion as special commission income increased by 16.8% YoY mainly due to an increase in special commission income from loans and advances and investments. In addition, total operating income edged up while total operating expenses decreased.

The bank’s bottom line grew by 13.5% from SAR 2.33 billion in Q2 2024.

Shareholders’ equity, no minority interest, stood at SAR 56.57 billion by the end of Sept. 30, 2024, compared to SAR 50.88 billion in the year-earlier period.

Balance Sheet (B)

Item	9m 2023	9m 2024	Change‬
Assets	377.01	433.37	14.9 %
Customer Deposits	254.72	293.57	15.3 %
Loan	267.15	305.41	14.3 %

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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 %
Q3 2024	3,293.36	7.1 %	4,544.90	14.2 %	(281.48)	7.5 %

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
Q3 2024	2,654.09	27.0 %	0.88	-	2,654.09	0.88

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 %
Q3 2024	2.23 %	16.79 %	75.97 %

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 %
Q3 2024	433.37	14.9 %	293.57	15.3 %	305.41	14.3 %

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 %
9m 2024	433.37	14.9 %	293.57	15.3 %	305.41	14.3 %

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 %
Q3 2024	67.74 %	70.47 %	104.03 %

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
Q3 2024	3,000.00	3.01	3.01	2.91	18.86

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
Q3 2024	8.56	8.56	1.32

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	-
Q3 2024	2,319.39	1,256.88	769.83	198.79	-

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	Q3 2024 (e)	Q3 2024 (a)	Change‬
Average	2,119.87	2,654.09	25.20 %

Estimates vs Actual (Million)

Item	Q3 2024 (e)	Q3 2024 (a)	Change
OSOOL AND BAKHEET	2,277.12	2,654.09	16.6 %
United Securities Company	2,153.00	2,654.09	23.3 %
Sico	2,147.00	2,654.09	23.6 %
SNB Capital	2,146.00	2,654.09	23.7 %
Hermes	2,120.00	2,654.09	25.2 %
Citi Bank Group	2,031.00	2,654.09	30.7 %
JP Morgan	1,965.00	2,654.09	35.1 %

Financial Ratios

	Current
Market Cap (M Riyal)	86,100.00
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)	9.55
P/E (TTM)	9.55
Price/book	1.52
Return on Average Assets (%) (TTM)	2.2
Return on Average Equity (%) (TTM)	16.8

Riyad Bank (RIBL)

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Riyad Bank’s 9M 2024 profit up 16% to SAR 7.06B; Q3 at SAR 2.65B

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Riyad Bank’s 9M 2024 profit up 16% to SAR 7.06B; Q3 at SAR 2.65B

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Financials (M)

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Profit Performance (Million)

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