Riyadh bank posts SR 291 million profits
The Saudi-based Riyadh Bank has posted a net operating income of SR 291 million ($77.6 million) in the first quarter of 2000, compared with SR 290.2 million in the corresponding period of last year, reported Al-Morakeb Al-Inmai magazine. The bank’s total assets value grew by 7 percent during the same period, reaching SR 66 billion. At the same time, the customer deposits grew by 12 percent to reach SR 39.4 billion.
In the context of this recent trend of success, Al-Iktissad Wal-Aamal magazine reported that the Riyadh Bank has recently opened a new branch in the Mecca Industrial Zone. This is consistent with the bank’s new strategy aimed at expanding its operations and services in all regions. Presently, there are 193 branches of this bank operating within Saudi Arabia. –(Albawaba-MEBG)