- Riyad Bank reported a first-quarter profit of 2.49 billion riyals, surpassing expectations and marking a 20% increase from the previous year.
- The reported operating income was 4.50 billion riyals, a 10% rise compared to the previous year, but slightly below the estimated 4.52 billion riyals.
- Earnings per share (EPS) increased to 0.79 riyals from 0.66 riyals last year, matching analyst expectations.
- Impairments decreased by 17% year-over-year to 361.7 million riyals.
- Pretax profit reached 2.77 billion riyals, achieving a 20% increase from the previous year, slightly exceeding the estimate of 2.73 billion riyals.
- Total assets of Riyad Bank amounted to 465.35 billion riyals.
- The bank’s investments totaled 69.27 billion riyals, while net loans stood at 338.99 billion riyals.
- Total deposits at Riyad Bank were reported at 304.09 billion riyals.
- Riyad Bank attributed its operating income growth to an increase in net special commission income, fee and commission income, trading income, and exchange income.
- The bank experienced losses on the disposal of non-trading investments and a decline in dividend income.
- Analyst recommendations for Riyad Bank include 15 buys, 3 holds, and 1 sell.
A look at Riyad Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Riyad Bank seems to have a positive long-term outlook. With strong scores in Value, Dividend, and Growth indicators, it indicates that the company is performing well in terms of financial health, returns to shareholders, and future potential for expansion. Additionally, the high Momentum score suggests that the company is experiencing strong positive market trends.
Riyad Bank, known for its diverse banking services including commercial and retail banking, loans, private banking, risk analysis, and asset management, seems to be positioned well for the future. While the Resilience score is slightly lower, indicating some vulnerability, the overall scores point towards a promising outlook for Riyad Bank in the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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