Riyadh – Mubasher: Saudi Arabia’s Al Rajhi Bank on Sunday reported a 13% year-on-year profit increase during the full-year 2018.
The bank’s profits reached SAR 10.30 billion from January to December 2018, up from SAR 9.12 billion in the previous year, according to a bourse filing.
The Saudi Stock Exchange (Tadawul) listed bank ascribed 2018 profit growth to a 9% rise in total operating income.
Total operating income rose to SAR 17.320 billion last year, against SAR 15.91 billion in 2017.
The lender’s revenues for special commissions and investments jumped 9.3% year-on-year to SAR 13.76 billion in the January-December period of 2018, versus SAR 12.58 billion.
The total value of net income for special commissions and investments grew 10.2% to SAR 13.25 billion from January to December last year, compared to SAR 12.03 billion in 2017.
Earnings per share (EPS) hit SAR 6.34 last year, up from SAR 5.61.
Based on figures compiled by Mubasher, Al Rajhi Bank stated that profits grew 13.05% to SAR 2.773 billion in the fourth quarter of 2018, versus SAR 2.453 billion in Q4-17.
Al Rajhi Bank’s stock remained unchanged to finish Sunday’s trading activities at SAR 101.20.
