RIYADH: Saudi Arabia's Al Rajhi Bank has reported a net profit of SR4.1 billion ($1.09 billion) in the first quarter of 2022, up 24 percent from the same period a year ago, according to a bourse filing.
The total operating profit of the bank rose to SR6.9 billion in Q1, up 16.9 percent from Q1 2021, and up 1.4 percent when compared with the previous quarter.
The bank’s total shareholders’ equity currently stands at SR78 billion, up 32 percent from the same period in the previous year.
Al Rajhi attributed the rise in net profit to an increase in total operating income by 17 percent caused by an increase in net financing and investment income, fees from banking services, other operating income, and exchange income.
