Riyadh – Mubasher: Al Rajhi Bank’s profits for the second quarter of 2016 grew 5.72% year-on-year to SAR 2.05 billion ($547.2 million) from SAR 1.94 billion ($517.6 million), according to a bourse filing Monday.
The increase in the net profits is due to the increase of operating income by 10.33%, the statement said.
Operating expenses rose 16% on the back of salary expenses, increased credit and investment loss provisions.
Al Rajhi’s net profits also grew 17.6% in the six-month period ended 30 June 2016 to SAR 4.07 billion compared to SAR 3.46 billion in H1-15.
