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.