Saudi Al Rajhi Bank FY 2023 net profit slips 3% as operating income falls
Al Rajhi Bank, Saudi Arabia's second-biggest lender, reported a 3% fall in full-year net profit to 16.62 billion riyals ($4.4 billion), as operating income fell offsetting lower provisioning for expected credit losses.
The net profit was a shade below analysts’ mean estimate of SAR16.2 billion, according to LSEG data.
Net financing and investment income fell by 4.1%, the bank said in a regulatory filing on Riyadh's Tadawul exchange on Wednesday.
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