Riyadh – Mubasher: Al Rajhi Bank posted its interim financial results for the second quarter of 2019.
Net profits grew by 4.28% to SAR 2.58 billion in Q2-19, compared to SAR 2.47 billion in Q2-18, according to the bank’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
The Saudi-based bank attributed the increase in net profits to the rise in total operating income by 13.4% caused by an increase in net special commission income, fees from banking services, exchange income and other operating income.
Total revenues of the Saudi lender jumped by 14% to SAR 4.18 billion during the three-month period ended in June, from SAR 3.6 billion in the corresponding period in the prior fiscal year.
For the first half of 2019, net profits of Al Rajhi advanced by 8.28% to SAR 5.17 billion, versus SAR 4.78 billion in H1-18.
Revenues of the world's largest Islamic bank by capital grew by 14.4% year-on-year to SAR 8.26 billion during the first six months of 2019, the statement added.
The bank’s assets hit SAR 369.5 billion by the end of June, while total investments reached SAR 45.86 billion in the same period.
Moreover, customer deposits levelled up by 7% to SAR 300.5 billion during H1-19, compared to SAR 280.3 billion in the corresponding period last year.
Profit per share recorded SAR 2.07 during the six-month period between January and June, from SAR 1.91 in the same period of the prior year.
