Saudi Arabia’s largest bank, Al-Rajhi Banking and Investment Corp., yesterday reported a 46.9% rise in net profits to SR2.14 billion ($570.7 million) in the first nine months of this year. The bank said that its operating income stood at SR3.7 billion.
Total assets rose to SR73 billion, from SR69 billion in June. Shareholders’ equity stood at SR9.4 billion, compared to SR7.25 billion at the end of 2003.
Al-Rajhi has market capital of over SR69 billion, or 7.8% of the total Saudi bourse. Al-Rajhi stock ended yesterday morning’s trading session up 0.39% at SR1,541 before the results were announced, differing to the trend on a broadly weaker market.
Source: SPA
