Published: July 8, 2012
Riyad Bank and The Saudi Investment Bank announce six-month results.
Saudi Arabia's Riyad Bank and the Saudi Investment Bank have announced six-month results that show rising profits and customer deposits.
Announcing its interim results for the first six months of the year, Riyad Bank revealed profits of SAR1.8bn (US$480mn), 15.1% up on the SAR1.5bn it recorded during the first half of 2011. The bank's assets have risen to SAR180.6bn during this period, up 1.7% on the first half of 2011, while loans and advances rose by 4.1% to SAR110bn and deposits by 3.5% to SAR137bn.
The Saudi Investment Bank, meanwhile, has announced its own figures. The bank saw profits for the six months to July rise by 5% to SAR435mn. Assets stood at SAR53.4bn compared to SAR50.5bn a year before. Loans and advances dropped by 3% to SAR29.7bn while customers deposits rose by 6% to SAR38bn.