Riyad Bank’s profits to 9.3 billion riyals in 2024

Riyad Bank’s profits in 2024 increased by 15.2% to 9.3 billion riyals, compared to 8 billion riyals in the year 2023.
According to the company’s statement on Saudi Arabia’s circulation, this is mainly due to the high level of operations income and a decrease in the total operations expenses.
The rise in the total income of operations is due to the height of the net fees and commissions income, the net income of private commissions, the net income of the transfer of foreign currencies, the net trading income, and the net gains/(losses) of selling investments of ownership for other than the purposes Other operations.
She added that the decrease in the total operations expenses mainly is due to a decrease in a clear net decrease in credit losses and other financial assets, a net allocated decrease in the value of investments, consumption of property, equipment and the right to use assets, other operations expenses, rental expenses and buildings, partially met with a rise in employee salaries and what is in Its ruling, and other public and administrative expenses.