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الاقتصادية
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Al Rajhi Bank records 14% quarterly profit rise
Al Rajhi Bank achieved quarterly profits of 7 billion riyals in the second quarter of the year, marking a 14% increase compared to the same period last year. This growth is attributed to a 13.3% rise in operating income, driven by higher net income from financing, investments, and service fees, despite a decline in income from other operations. Additionally, credit loss provisions increased to 881 million riyals, a 46.8% rise, while operating expenses grew by 19.4%. Al Rajhi is the largest financial institution in Saudi Arabia by market value, amounting to 391.2 billion riyals, and was established in 1978.
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