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RIYAD BANK-
Riyad Bank’s net income rose 14.6% y-o-y in FY 2023 to c. SAR 8 bn on the back of a rise in total operating income, according to a disclosure to Tadawul yesterday. Its revenues rose 16.9% y-o-y to c. SAR 16 bn in the same period on the back of an increase in net special commission income, trading, and operating income.
Dive deeper: The bank’s assets rose 7.6% y-o-y last year to SAR 387 bn, while investments were up 11.3% y-o-y to SAR 58.1 bn. Client deposits were up 6.2% y-o-y to SAR 255 bn.
YAMAMA CEMENT-
Yamama Cement’s net income plunged 14.5% y-o-y in FY 2023 to SAR 304.4 mn on the back of a decrease in sales volume and value due to a drop in local demand, according to a disclosure to Tadawul. Revenues were also down 7.2% y-o-y to c. SAR 935.2 bn in the same period.
