Riyad Bank Q4 net rises 4.1pc
Riyadh, January 14, 2013
Riyad Bank on Monday posted a 4.1 percent rise in fourth-quarter net profit, it said on Monday, missing the average forecast of analysts.
Saudi Arabia's third-largest listed bank by market capitalisation said in a bourse statement it made 810 million riyals ($216 million) in the three months ending December 31 compared with 778 million in the same period a year earlier.
Nine analysts surveyed by Reuters expected 821.9 million.
The bank said total operating income rose 3.9 percent versus the final three months of 2011 while full-year net profit in 2012 grew 10.1 percent to 3.47 billion riyals.
Profit from special commissions in the fourth quarter rose 1.7 percent over the same period in 2011 to 1.1 billion riyals.
Total assets at the end of 2012 were 190.2 billion riyals, an increase of 5.1 percent over the end of 2011, while customer deposits rose 4.6 percent over the same time period to 146.2 billion riyals.
Loans and advances rose 4 percent over 2012 to 117.5 billion riyals. - Reuters
More Finance & Capital Market Stories
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs
- In a first, NCB Capital names female CEO
- Du enters $1.17 billion financing deals