Riyad Bank achieved a net profit during the first quarter of this year of about SAR 1,172 million from its banking operations, compared to SAR 1,079 million for the similar quarter of the previous year, an increase of 8.6%, and compared to a net profit of SAR 1,060 million for the fourth quarter of 2014, an increase of 10.6%. The total operating profit during the first quarter amounted to SAR 2,050 million, compared to SAR 1,932 million for the similar quarter of the previous year, an increase of 6.1%.

Riyad Bank's Chairman Rashid Abdulaziz Al-Rashed explained that the net profit from private commissions amounted to SAR 1,282 million, compared to SAR 1,230 million in the same quarter of the previous year, an increase of 6.11 TP3T.

Rashid Al-Rashed, Chairman of the Bank's Board of Directors, explained that the net profit from special commissions during the first quarter amounted to SAR 1,282 million, compared to SAR 1,230 million for the same quarter of the previous year, an increase of 4.2%, reflecting a good performance of the returns of the lending and investment portfolio.

Rashid Al-Abdulaziz Al-Rashed, Chairman of the Bank's Board of Directors, said. <Al-Rashed explained that the assets as of 31/03/2015 amounted to SAR 216,533 million compared to SAR 211,405 million for the similar period of the previous year, an increase of 2.4%, and the investment portfolio increased to SAR 46,641 million compared to SAR 46,587 million, an increase of 0.1%, loans and advances increased to SAR 137,626 million compared to SAR 136,770 million for the same period last year, an increase of 0.6%, and customer deposits amounted to SAR 164,834 million compared to SAR 159,947 million for the same period last year, an increase of 3.1%.

Al-Rashed stated that the investment portfolio increased to SAR 46,641 million compared to SAR 46,587 million, an increase of 3.1%. Al-Rashed indicated that the good growth in profits was reflected in the earnings per share, which reached SAR 0.39 during the three months, compared to SAR 0.36 for the similar period of the previous year, and contributed to the increase in the bank's profitability for the current quarter compared to the corresponding period of 2014, the improvement in the net profit of special commissions and the increase in income from operations.

Al-Rashed concluded. Al-Rashed concluded his statement that the bank continues its efforts to achieve the aspirations of the bank's shareholders and continue to grow the returns on their rights and support the bank's leading position in the banking sector, with the bank's keenness to continue to provide the best banking services to its customers through all channels available to customers, in addition to the continuous development of electronic services and focus on initiatives that aim to enrich the customer experience with the bank.

Rashid concluded his statement.