Riyad Bank announces its Annual Financial Results for the Period Ending on 2020-12-31
|Element List||Current Year||Previous Year||%Change|
|Total income from Special Commissions/Financing & Investments||9,813||10,371||-5.38|
|Net Income from Special Commissions/Financing & Investments||8,213||7,837||4.797|
|Total Operation Profit (Loss)||11,205||10,717||4.553|
|Net Profit (Loss) before Zakat and Income Tax||5,484||6,232||-12.002|
|Net Profit (Loss)||4,715||5,602||-15.833|
|Total Comprehensive Income||5,434||6,557||-17.126|
|Total Share Holders Equity (after Deducting Minority Equity)||44,355||40,571||9.326|
|Loans and Advances Portfolio (Financing & Investment)||191,347||173,982||9.98|
|Profit (Loss) per Share||1.57||1.87|
|All figures are in (Millions) Saudi Arabia, Riyals|
|The reason of the increase (decrease) in the net profit during the current year compared to the last year is||Net income decreased mainly due to increase in total operating expenses by 23.8%, resulting from higher net impairment charge for credit losses and other financial assets and investments. This was partially offset by increase in total operating income by 4.6%. The increase in total operating income was mainly due to increase in net special commission income, trading, exchange income, net, other income and gains on non trading investments, net partially offset by lower fee and commission income, net.|
|Statement of the type of external auditor's report||Unmodified opinion|
|Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion||None|
|Reclassification of Comparison Items||None|
|Additional Information||Impairment charge for credit losses for the year ended 31 December 2020 was 1,987 million, as compared to SAR 970 million for the previous year. |
Impairment charge for credit losses for the three months period ended 31 December 2020 was SAR 648 million, as compared to SAR 335 million in the corresponding period of last year and compared to SAR 466 million for the three months period ended 30 September 2020.
Zakat charge for the three months period ended 31 December 2020 was SAR 277 million as compared to SAR 130 million in corresponding period of last year and compared to SAR 177 million for the three months period ended 30 September 2020.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.