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Tuesday, 1 May 2018

Saudi's Al Rajhi Bank Q1 net profit up 7.3% | ZAWYA MENA Edition

Saudi's Al Rajhi Bank Q1 net profit up 7.3% | ZAWYA MENA Edition:

"Al Rajhi Bank, Saudi Arabia's second-largest lender by assets, reported a 7.3 percent rise in first-quarter net profit on Tuesday, marking the ninth quarter of earnings growth in a row.

The bank made a net profit of 2.38 billion riyals ($634.63 million) in the three months to March 31, up from 2.2 billion riyals in the same period a year earlier, it said in a bourse statement.

SICO Bahrain forecast the bank would make a net profit of 2.42 billion riyals, while EFG Hermes expected a net profit of 2.38 billion riyals. "



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