Riyadh – Mubasher: Saudi Arabia-based Al Rajhi Bank on Thursday posted a 17.74% year-on-year jump in net profits during the second quarter of 2018, registering SAR 2.57 billion, from SAR 2.18 billion.
Net profit of the kingdom's second largest by assets levelled up 12.45% to SAR 4.95 billion in the period between January and June, up from SAR 4.40 billion in H1-17, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, the bank's profits increased by 7.81% in Q2-18, from SAR 2.38 billion.
The Saudi lender attributed the first-half profit growth to a 9.1% rise in total operating income as net special commission income and fees from banking services levelled up.
Gross special commission income rose 7.6%, reaching SAR 6.59 million during H1-18, compared to SAR 6.12 million in the year-ago period.
The stock increased 1.01% to close Wednesday at SAR 89.70.
