Al Rajhi Bank's profits rose during the second quarter of this year by 14% year-on-year to 7 billion riyals, compared to 6.1 billion riyals in the same quarter of the previous year.

The bank explained in a statement on "Tadawul" today, Tuesday, that net income grew as a result of a 13.3% increase in total operating income, mainly due to a rise in net financing and investment income, banking service fees, and income from foreign currency exchange. This was offset by a decrease in income from other operations.

Sun, 19 2026

In contrast, total operating expenses including credit loss provisions increased by 19.4% due to a rise in other general and administrative expenses and employee salaries and benefits expenses, offset by a decrease in depreciation expense, in addition to an increase in credit loss provisions to 881 million riyals, up by 46.8%.

Net income from financing and investment increased by 13.7%, mainly due to an increase in total income from financing and investment, offset by a decrease in total returns on financing and investment.

Al Rajhi Bank, which is the largest financial institution in Saudi Arabia by market value at 391.2 billion riyals, was founded in 1978 with a capital of 60 billion riyals, and was listed on the Saudi Stock Exchange in 1988.