The bank explained that its profits increased by 4%, compared to the previous quarter where the profits were 2.77 billion riyals.
Al-Rajhi Bank attributed the increase in profits to the increase in net income due to an increase in operating income by 12%. As a result of the increase in net income from private commissions and income from banking services fees, this was offset by a decrease in income from foreign currency exchange and other operating income.
The value of net special commission income / financing and investments amounted to 3.94 billion riyals, compared to 3.44 billion riyals, in the corresponding period of last year, a growth of 14.6%.
It is worth noting that, the profits of the Saudi Al-Rajhi Bank increased in the fourth quarter of last year by about 13% on an annual basis to reach about 2.8 billion riyals, and the bank's annual profits increased in 2018 by about 13% compared to the year The previous one reaching about 10.3 billion riyals.
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