- Riyad Bank reported a third-quarter profit of 2.65 billion riyals, marking a 27% increase from the previous year.
- The reported profit surpassed the market estimate of 2.12 billion riyals.
- Operating income for the third quarter reached 4.54 billion riyals, showing a 14% year-over-year growth.
- This operating income was higher than the estimated 4.15 billion riyals.
- Pretax profit was recorded at 2.96 billion riyals, exceeding the estimated 2.4 billion riyals.
- The bank’s total assets amounted to 433.37 billion riyals.
- Investments were valued at 66.14 billion riyals.
- Net loans stood at 305.41 billion riyals.
- Total deposits were reported at 293.57 billion riyals.
- Analyst recommendations for Riyad Bank comprise 12 buys, 4 holds, and no sell ratings.
A look at Riyad Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Riyad Bank seems to have a promising long-term outlook. With a top score in both the Value and Dividend categories, the bank appears to be financially strong and offers attractive returns to investors. Additionally, scoring well in Growth indicates potential for expansion and increased profitability over time. However, its slightly lower scores in Resilience and Momentum suggest that there may be some challenges to overcome in terms of market stability and current performance.
Riyad Bank, known for its diverse range of banking services including retail and commercial offerings, demonstrates a solid foundation in attracting deposits and providing various financial products to its customers. With a strong emphasis on value and dividends, the bank’s strategic position in the market is bolstered by its focus on growth and investment opportunities. Despite facing some resilience and momentum issues, Riyad Bank‘s comprehensive services such as private banking, asset management, and credit card management, position it well for long-term success in the banking sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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