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الاقتصادية
Bank Al-Riyad Q2 profits up 2 percent
Riyad Bank achieved a net profit of 2.65 billion Riyals in the second quarter of the year, representing a 2% increase. This growth was driven by an increase in total operating income, which was fueled by higher net trading income, commissions, and distributed profits. Despite this growth, operating expenses rose mainly due to the depreciation of properties and resources, while some other expenses such as rents and administrative costs declined. Riyad Bank is one of the largest Saudi banks, with a market value of 87.3 billion Riyals, and the Public Investment Fund holds the largest stake in it at 21.8%.
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