Sun, 2022-10-23 09:11
RIYADH: Riyad Bank has seen its profit soar by 13 percent to SR5 billion ($1.3 billion) in the first nine months of 2022, sending its stock higher.
The bank saw its shares increase 1.70 percent at 10:08 a.m. Saudi time to reach SR36.
This is up from SR4 billion in the same period a year ago, according to a bourse filing.
The profit hike was buoyed by higher operating income, due to an increase in earnings from net special commissions, fees and commissions, and exchanges, the bank said.
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