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Riyad Bank posts $254m in Q1 net income
- Saudi Arabia: Monday, April 08 - 2013 at 03:12
Saudi lender Riyad Bank has reported a 5.5% increase in its net income in the three months ended March 31 to SR951m ($254m), compared with SR901m in the same period a year earlier, Reuters has reported. The kingdom's third-largest listed bank by market value attributed the rise in profits to higher operating income, without providing further explanation. Operating income for the quarter rose by 4.9% to SR1.73bn. Loans and advances increased by 6.4% to SR121bn at the end of March from the same point of 2012.
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