Riyadh – Mubasher: Riyad Bank’s profits for the second quarter of fiscal year 2017 amounted to SAR 848 million, falling 26% year-on-year and 19% quarter-on-quarter.
The bank attributed the year-on-year decline in Q2 profits to an increase of 28.2% in total operating expenses. The total operating income decreased 2.1%, according to a bourse filing.
In the first six months of FY17, profits dropped 18.32% to SAR 1.9 billion, compared to SAR 2.23 billion for H1-16.
The stock rose 0.09% to SAR 10.85.
