Riyad Bank (TADAWUL:1010) Third Quarter 2024 Results
Key Financial Results
- Revenue: ر.س4.26b (up 18% from 3Q 2023).
- Net income: ر.س2.65b (up 34% from 3Q 2023).
- Profit margin: 62% (up from 55% in 3Q 2023). The increase in margin was primarily driven by higher revenue.
- EPS: ر.س0.86 (up from ر.س0.66 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Riyad Bank Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 9.0%. Earnings per share (EPS) also surpassed analyst estimates by 29%.
Looking ahead, revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Saudi Arabia.
Performance of the Saudi Banks industry.
The company's shares are up 3.0% from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Riyad Bank, and understanding it should be part of your investment process.
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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.
About SASE:1010
Riyad Bank
Provides banking and investment services in the Kingdom of Saudi Arabia.
Flawless balance sheet established dividend payer.
