With a 3.5% Increase Al Rajhi Bank Profits SR 1,721 Million in 3rd Quarter

Al Rajhi Bank announced that during the third quarter of 2015 the bank had achieved a net profit of SR 1.721 million, in comparison with SR 1,662 million in the same quarter of the previous year, with an increase of 3.5% whereas the net income of the first 9 months of 2015 reached SR 5,181 Million.

According to a statement issued by the Bank, the financial results show an increase in total shareholders' equity reaching SR 45 billion, an overall increase of 11% and rise in total assets to SR 325 billion, an increase of 9%, while total financing and investing assets amounted to SR 255 billion, an increase of 4%. Customer balances reached SR 265 billion, an increase of 6%, while return on average assets amounted to 2.18%, and the Bank achieved a return on equity rate of 15.91%, while earnings per share stood at SR 3.19 during the same period.

The Bank’s statement also indicated that the 3rd quarter witnessed the execution of several new projects and initiatives that focused on customer service and satisfaction especially in the field of electronic banking and the expansion of the branch network. This network has reached a number of 563 branches maintaining its lead in the region as the largest network of bank branches, while the number of ATMs reached over 4,088 covering all the Kingdom’s cities and villages.

The statement then concluded by expressing thanks to the valued customers for their loyalty and to the bank’s staff for their commendable efforts in achieving these excellent results. ​​​