Al-Rajhi Bank recorded a decrease of 3.8% in the profits of the second quarter of 2020 to reach 2.43 billion riyals, compared to 2.53 billion riyals in the second quarter of 2019, and in return for profits In the previous quarter, 2.38 billion riyals, up 2.4%.
According to Arabia Net, private commission income / financing and investments decreased to 3.96 billion riyals, compared to 4.06 billion riyals in the corresponding period of last year, a decrease of 2.3% .
Al-Rajhi Bank stated that the decrease in profits due to the decrease in net income due to an increase in total operating expenses by 2.9%, mainly due to the rise in the items of salaries and employee benefits and depreciation expenses, In addition, the credit loss provision increased from 386 million riyals to 458 million riyals, or 18.8%.
In contrast, total operating income decreased by 1.1% as a result of a decrease in net financing and investment income, offset by an increase in income from banking service fees and income from other operations. p>
(p knowledge = fun knowledge)
