Riyad Bank has reported net profit of SAR 2.486 billion for the first quarter of 2025, a 19.9% increase compared with the same period a year earlier, as core income rose and provision charges fell. The results were released on 21 April 2025.
Earnings per share for the quarter reached SAR 0.83, up from SAR 0.69 in the first quarter of 2024. Net profit also rose 10.1% from the fourth quarter of 2024.
COMMISSION INCOME AND OPERATING REVENUES RISE
Net special commission income, which is the term used under Saudi regulatory reporting for what would conventionally be described as net interest income in other jurisdictions, increased 7.6% year-on-year to SAR 3.282 billion.
Total operating income for the quarter came in at SAR 4.504 billion, representing a 10.2% year-on-year increase. Higher fee and commission income, net trading income, exchange income and other operating income contributed to the gain, partly offset by losses on disposal of non-trading investments and lower dividend income.
PROVISION CHARGES FALL 23.9%
Profit was also supported by a 23.9% decline in provision charges, which fell to SAR 331.6 million from a higher level in the equivalent quarter of 2024.
Lower provisions also contributed to the 10.1% sequential improvement, as impairment charges were lower than in the fourth quarter of 2024.