Mubasher: Al Rajhi Bank achieved a growth of 10.11% in profits during the first quarter of 2017 when compared to the same period of 2016.
The bank’s earnings increased to SAR 2.22 billion from SAR 2.02 billion in Q1-16, according to a bourse statement issued on Monday.
The rise in Q1 profits is attributed to a 4.3% increase in business income from financing and investments.
Al Rajhi’s total business expenses shrank by 2.7% due to insurance losses provision, the statement noted.
