Riyad Bank reports 4 per cent rise in profit in fourth quarter

16 January 2013

Full year profit up 10 per cent

Riyad Bank has reported profits of SR810m for the fourth quarter of 2012, a 4.1 per cent increase on the same period of 2012.

The bank said that deposits rose by 4.6 per cent to SR146.2bn and loans rose 4 per cent to SR117.5bn. Total assets stood at SR190.2bn at the end of 2012.

For 2012 the bank reported a 10.1 per cent rise in profits to SR3.47bn.

Riyad Bank is the third largest lender in the kingdom based on market capitalisation and is currently advising Saudi Aramco on the financing for its $20bn Sadara Chemical project.

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