The bank, which last year acquired a 9.88 percent stake in Credit Suisse Group (CSGN.S), made a net profit of 18.58 billion riyals ($4.95 billion), up 46.7 percent from the previous year.
That beat median analyst estimates of 18.2 billion riyals, according to Refinitiv data.
The bank made a net profit of 4.76 billion riyals in the fourth quarter, according to Reuters calculations. That was slightly above analyst estimates of 4.68 billion riyals, Refinitiv data showed.
Operating income grew 16.9 percent in 2022, the bank said in a filing to the Tadawul exchange, while net impairment charges for expected credit losses decreased 57.5 percent to 1.69 billion riyals. Fee income from banking services grew 21.1 percent.
Reuters