Riyadh – Mubasher: Al Rajhi Bank reported a 12.44% year-on-year increase in its profits for the third quarter recording SAR 2.82 billion.
Revenues from Special Commissions/Financing and Investments of the Saudi lender levelled up by 12.35% to SAR 4.28 billion during the three-month period between July and September, according to a bourse filing on Tuesday.
“Net income has increased due to an increase in total operating income by 13.6% caused by an increase in net special commission income, fees from banking services, exchange income and other operating income,” the bank said.
For the first nine months of 2019, net profits of Al Rajhi Bank grew by 9.7% to SAR 8 billion when comparing to SAR 7.29 billion in the same period last year.
On a yearly basis, total revenues rose by 13.7% to SAR 12.55 billion over a nine-month period.
By the end of September, the bank’s assets stood at SAR 368.2 billion, while total investments recorded SAR 45.9 billion.
Profit per share registered SAR 3.2 in nine months, compared to SAR 2.92 in the corresponding period a year ago.
