Al Rajhi Bank Q3 Profits Rise 22.8% to SAR 5.1 Billion

Al Rajhi Bank announced on Sunday an increase in net profit by 22.8% during the third quarter to 5.1 billion riyals, compared to 4.2 billion riyals in the same quarter last year, following the announcement today of the preliminary financial results for the period ending Sep. 30, 2024 (nine months).

The total operating profit in the third quarter increased 22.7% to 8.4 billion riyals, compared to 6.8 billion riyals in the same quarter last year.

The bank’s net profit during the 9-month period increased 14% to 14.2 billion riyals, compared to 12.4 billion riyals in the same duration last year.

Total equity (after excluding non-controlling interests) increased 15.1% to 117.7 billion riyals in the current period compared to 102.2 billion riyals in the same duration last year.

Earnings per share for the current period reached 3.38 riyals, compared to 2.96 riyals in the same duration last year.