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Arab News, Sunday, Oct 24, 2021 | Rabi Al-Awwal 17, 1443

Saudi bank Al Rajhi reports 44% rise in the first nine months of 2021 net profits

Saudi Arabia: Al Rajhi Bank reported a 44 percent increase in net profit for the first nine months of 2021, from SR 7.474 billion in the same period last year, to SR 10.73 billion.=

The higher net profit for Q3 2021 is spurred by 43 percent year-on-year to SR 3.794 billion, compared to the third quarter of 2020.

The bank attributed the profit increase to the rise in total operating income by 26.4 percent, as a result of higher net financing and investment income. 

Shareholders’ equity, excluding minority interest, increased to SR 6.363 billion, compared to SR 5.491 billion ($ 1.463 billion) at the end of the same period of 2020. 

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