Riyad Bank Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Riyad Bank (TADAWUL:1010) Full Year 2024 Results

Key Financial Results

• Revenue: ر.س15.7b (up 12% from FY 2023).
• Net income: ر.س9.32b (up 21% from FY 2023).
• Profit margin: 60% (up from 56% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: ر.س3.01 (up from ر.س2.58 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Riyad Bank Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 1.5%.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in Saudi Arabia.

Performance of the Saudi Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Be aware that Riyad Bank is showing 1 warning sign in our investment analysis that you should know about...

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary 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. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.