9 Hrs
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الاقتصادية
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Al-Riyad Bank Profits Rise 7 Percent
Riyad Bank achieved its highest annual growth in quarterly profits since the beginning of the year, with profits increasing by 6.6% year-on-year to 2.87 billion SAR in the third quarter, surpassing analyst expectations of 2.61 billion SAR. The growth was driven by increases in trading income, foreign exchange gains, and dividend distributions, despite a 25% rise in operating expenses and credit loss provisions to approximately 420 million SAR. These results reflect the strong financial performance of the bank and its improvement in key sources of income.
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