Riyadh – Mubasher: Al Rajhi Bank posted a 2.31% drop in net profit to SAR 12.45 billion during the first nine months (9M) of 2023, compared to SAR 12.74 billion in the year-ago period.
The lender reported clients’ deposits standing at SAR 565.71 billion in 9M-23, an annual rise of 1.79% from SAR 555.76 billion, according to the initial financial results.
Earnings per share (EPS) hit SAR 2.96 as of 30 September 2023, marking a year-on-year (YoY) decrease from SAR 3.16.
Assets increased by 8.31% to SAR 801.48 billion in 9M-23 from SAR 739.96 billion in 9M-22, while the investments widened by 26.41% to SAR 128.70 billion from SAR 101.80 billion.
Income Statements for Q3-23
The net profits of Al Rajhi Bank reached SAR 4.155 billion in the third quarter (Q3) of 2023, lower by 4.59% YoY than SAR 4.355 billion.
On a quarterly basis, the Q3-23 profits edged up by 0.12% from SAR 4.150 billion in Q2-23.
