Riyad Bank’s net income up 27% y-o-y in 3Q 2024 at SAR 2.7 bn

Riyad Bank reported a net income of SAR 2.7 bn in 3Q 2024, up 27% y-o-y on the back of an increase in total operating income and a decrease in total operating expenses, it said in a disclosure to Tadawul. Total income from financing rose 18.0% during the period to SAR 5.5 bn, while total income from investments grew 7.7% to SAR 651.6 mn.

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On a 9M basis: Riyadh Bank’s bottom line grew 16.0% y-o-y to SAR 7.1 bn in 9M 2024. Income from financing rose 18.8% to SAR 15.8 bn, while income from investments increased 9.9% to SAR 1.9 bn.