Al Rajhi Bank Records SAR 1.519 M Profits by 1st Quarter 2015

16 April 2015

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Mr. Suleiman Abdul-Aziz Azzabin, Chief Executive Officer of Al Rajhi Bank, announced that the Bank's net profits during the first quarter of 2015, reached SAR 1.519 M.

CEO stated that the Bank achieved a total operation’s income conducted during first quarter of 2015 amounted to SAR 3.422 M, while finance and investments net profits increased to SAR 2.463 M, compared to SAR 2.426 M for the similar period of the last year, recording 1.5% rise, and SAR 37 M increase. Compared to previous quarter, finance and investment net revenues decreased by 2.2%, recording SAR 56 M decline.

Mr. Azzabin pointed out a continues growth for the bank, thanks to its successful investment and banking policy, as total shareholders' equity reached SAR 42 BN, compared to SAR 40 BN for the same period of the last year, recording a 5% rise. Furthermore, the total assets increased to SAR 320 BN compared to SAR 288 BN for the same period of the last year, recording an 11% increase. Additionally, finance assets of Al Rajhi Bank reached SAR 205 BN, with 6% increase, while customer balances amounted to SAR 266 BN compared to SAR 239 BN for the same period of the last year, recording an 11% increase. Al Rajhi Bank has also achieved return rate on assets that reached 1.96%, and return on shareholders' equity that reached 14.66%, and the profit per one share amounted to SAR 0.93.

Mr. Sulaiman added that Al Rajhi Bank managed to diversify, enhance the revenues resources and develop the investment and banking sector along with the continued focus on customers, and meeting their needs through a wide network of bank’s branches reached 523 domestically, and 31 branches abroad, in addition to an advanced network of the ATMs that reached 4014 machines.

The Bank's CEO concluded its statement by expressing thanks on behalf of the Directors and the Bank Management, to the valued Bank customers for their loyalty, and the employees for their tremendous efforts in achieving these outstanding results.​

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