Al-Rajhi Bank achieved a 14.8% increase in profits for the third quarter of 2022 to reach 4.35 billion riyals, after zakat and tax, compared to profits of 3.79 billion riyals in the same quarter of 2021.
According to Arabiya Net, Al-Rajhi Bank said in a statement that net income rose in the third quarter of 2022, on an annual basis, as a result of an increase in total operating income by 9.55% to reach 7.2 billion riyals.
The bank said that this is mainly due to an increase in net financing and investment income, income from banking services fees and income from foreign currency conversion, offset by a decrease in income from other operations.
On a quarterly basis, the bank's net profit increased by 2.28% in the third quarter of 2022, compared to a net profit of about 4.26 billion riyals in the second quarter of 2022.
Al-Rajhi Bank’s net profit rose by 18.7% in the first nine months of 2022, to about 12.75 billion riyals after zakat and tax, compared to about 10.73 billion riyals in the same period of 2021.
