Saudi Equity Research - Riyad Bank (RIBL) 3Q25 - First Look Note
Funded income rose 13.6% YOY to SAR 7,043 Mn supported by robust growth in advances, while funded expense recorded higher growth than income impacting net funded income. Non-funded income boosted 20.6% YOY to SAR 1,509 in 3Q25.
Net loans and advances expanded 21.8% YOY and 4.6% QOQ to SAR 354.6 Bn in 2Q25, while customer deposits significantly rose 14.8% YOY and 4.2% QOQ to SAR 316.8 Bn in 2Q25. The loan-to-deposit grew marginally from 111.5% in 1Q25 to 111.9% in 2Q25.
Saudi Equity Research - Riyad Bank (RIBL) 1Q25 - First Look Note
Net Loans and advances grew 19.8% YOY and 5.9% QOQ to SAR 339 Bn in 1Q25. Riyad Bank customer deposits increased 12.2% YOY and declined 0.8% QOQ in 1Q25 to SAR 304.1 Bn.
Saudi Equity Research - Riyad Bank (RIBL) 4Q24 - First Look Note
The Bank’s witnessed robust growth in Corporate and Retail sectors, driving the net income in FY2024 with a healthy demand from corporates and SME’s. Net Loans and advances grew 16.7% YOY and 4.8% QOQ to SAR 320.1 Bn in 4Q24.
Saudi Equity Research - Riyad Bank (RIBL) 3Q24 - First Look Note
Total assets rose 12.0% YTD to SAR 433.4 Bn in 3Q24 driven by 11.3% growth in advances and 13.8% expansion in investments. Loan & advances expanded 14.3% YOY and 4.9% QOQ to SAR 305.4 Bn in 3Q24. Customer’s deposits expanded 15.3% YOY and 6.4% QOQ to SAR 293.6 Bn in 3Q24.
Higher fee income and lower provisions aided profitability
Riyad Bank's net advances rose 12.3% YOY and 3.1% QOQ to SAR 282.8 Bn in 1Q24 attributed to healthy credit demand primarily from corporate and SMEs owing to a healthy economic environment.
A decline in non-funded income coupled with higher opex and impairments impacted the bottom-line
RIBL’s net advances rose 13.2% to SAR 274.4 Bn in 2023 while customer deposits recorded a 6.2% YOY to SAR 254.9 Bn in 2023. RIBL’s headline loan to deposits ratio rose from 104.9% in 3Q23 to 107.6% in 4Q23 pressurizing liquidity.
