With an Increase of 28%, Al Rajhi Bank Profits 1,949 Million SAR in its 4th quarter

21 January 2016

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Mr. Abdullah bin Sulaiman Al Rajhi, Chairman of Al Rajhi Bank, stated that the Bank achieved a net profit of SR 1,949 million in Q4 of 2015 compared to SR 1,520 million in Q4 of the previous year, this represent an increase of 28%. Mr Al Rajhi also announced that net profit in 2015 reached SR 7,130 million.

Mr. Al Rajhi further explained that the financial results show an increase in total shareholders' equity reaching SAR 47 billion at an increase of 11.3%. In addition, there was an increase in total assets accumulating to SAR 316 billion with an increase of 3%. The Bank’s total financing and investing assets reached SAR 250 billion with an increase of 1%.

Moreover, Mr Al Rajhi noted that Customer Account Balances grew to SAR 256 billion with an increase of 0.1 %. The rate of return on assets and shareholders equity amounted to 2.29 % and 16.11 % respectively, while earnings per share increased to SAR 4.39.

The Chairman of the Board finally expressed his thanks to valued customers for their loyalty and to bank staff for their commendable efforts in achieving these excellent results.

During 2015, Al Rajhi Bank has continued to provide high-level services to its customers through a network of branches covering all regions of the Kingdom. Also, the bank has added 10 new branches, which has brought the number of branches to 538, seven self-services “Silah” was opened. Al Rajhi Bank has added 260 new ATMs, so the total number of ATMs has reached 4121, which is considered the largest network of ATMs in the Kingdom. Al Rajhi Bank has also installed 18,200 new points of sale (POS), so the total number of POS has reached 51,111, which is an increase of 55.3% in comparison to 2014. Also, in 2015 the bank added 11 Tahweel center to reach total of 186 Tahweel centers.

The bank also pointed out that a new service has been launched to provide customers with extended hours for financing products. This provides customers the ability to fulfill their financing needs through 13 “Silah” branches and 12 large car showrooms. ​

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