Al -Rajhi Bank, runway and trading in the Saudi market, “Tadawul”, increased by 0.20% at the beginning of trading today, Tuesday, to trade at the price of 102.60 riyals per share, to its highest level in 34 months.
The trading on Al -Rajhi Bank’s share at that time came through 1.12 million shares with a value of trading 115.5 million riyals.
The highest price for the share was at that time at 103.40 riyals, while the lowest price per share was at 102 riyals per share.
The stock touched the highest price in two years, 10 months and two days.
Al -Rajhi Bank achieved a growth in its net profits for 2024 by 18.66%, as the net profit reached about 19.722 billion riyals, compared to 16.62 billion riyals in 2023. This rise is due to a total increase in operations income by 16.4%, as a result of the growth of net financing and investment income, revenues from banking services fees, in addition to income resulting from other operations and transferring foreign currencies.
With regard to the financial results for the fourth quarter of last year, the bank recorded profits of 5.51 billion riyals, an increase of about 32.13% compared to 4.17 billion riyals in the fourth quarter of 2023.
The bank had announced earlier that a net profit increased by 14.09% during the first nine months of 2024, as the net profit reached about 14.21 billion riyals, compared to 12.45 billion riyals in the same period last year.
