Al Rajhi Bank’s 9M 2022 profit jumps 19% to SAR 12.746 bln; Q3 at SAR 4.355 bln

23/10/2022 Argaam Exclusive

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Al Rajhi Bank (ALRAJHI)

Al Rajhi Bank posted a net profit rise of 19% to SAR 12.746 billion for the first nine months of 2022, compared to SAR 10.734 billion in the year-earlier period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Net Income from investments and financial activities	15,037.09	16,593.95	10.4 %
Operating Income	18,861.58	21,310.88	13.0 %
Total Provisions	(1754.76)	(1648.68)	6.0 %
Net Income	10,733.92	12,746.49	18.7 %
Average Shares	4,000.00	4,000.00	-
EPS (Riyals)	2.68	3.19	18.7 %

The net profit growth was spurred by an increase of 12.98% year-on-year (YoY) in total operating income on higher net financing and investment income, fees from banking services, and exchange income, despite a decrease in other operating income.

On the other hand, total operating expenses, including impairment charges for financing, increased by 3.03% YoY, due to higher salaries and employee-related benefits, and depreciation expense. The bank reported a decline in other general and administrative expenses. In addition, impairment charge for financing decreased by 6.04% YoY from SAR 1.755 billion to SAR 1.649 billion.

The third-quarter net profit leapt 15% to SAR 4.355 billion, from SAR 3.793 billion in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Net Income from investments and financial activities	5,214.76	5,687.02	9.1 %
Operating Income	6,577.68	7,206.46	9.6 %
Debt Provisions	(593.81)	(489.96)	17.5 %
Net Income	3,793.75	4,354.64	14.8 %
Average Shares	4,000.00	4,000.00	-
EPS (Riyals)	0.95	1.09	14.8 %

Item	Q2 2022	Q3 2022	Change‬
Net Income from investments and financial activities	5,566.76	5,687.02	2.2 %
Operating Income	7,147.86	7,206.46	0.8 %
Debt Provisions	(580.42)	(489.96)	15.6 %
Net Income	4,258.30	4,354.64	2.3 %
Average Shares	4,000.00	4,000.00	-
EPS (Riyals)	1.06	1.09	2.3 %
EPS Diluted (Riyal)	1.05	1.07	1.9 %

Compared to Q2 2022, net profit grew by 2.3% from SAR 4.258 billion.

Shareholders’ equity, after minority interest, rose to SAR 86.101 billion as of Sept. 30, 2022, from SAR 63.609 billion a year earlier.

Balance Sheet (B)

Item	9m 2021	9m 2022	Change‬
Assets	582.66	739.96	27.0 %
Customer Deposits	478.33	555.77	16.2 %
Financing Investments	420.95	557.50	32.4 %

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Financial results (Million)

Period	Net Income from investments and financial activities	Change	Operating Income	Change	Debt Provisions	Change	Net Income	Change	EPS(Riyal)
Q1 2013	2,359.88	1.4 %	3,441.26	0.4 %	(396.86)	15.0 %	2,051.69	2.0 %	0.51
Q2 2013	2,394.49	5.4 %	3,434.88	0.2 %	(308.21)	18.5 %	2,122.72	1.4 %	0.53
Q3 2013	2,425.27	2.4 %	3,427.61	(5.8 %)	(695.82)	16.1 %	1,717.02	(8.1 %)	0.43
Q4 2013	2,469.42	4.0 %	3,541.28	1.5 %	(948.79)	(47.2 %)	1,546.56	(19.1 %)	0.39
2013	9,649.07	3.3 %	13,845.04	(1.0 %)	(2,349.69)	(1.3 %)	7,437.99	(5.7 %)	1.86
Q1 2014	2,426.42	2.8 %	3,497.93	1.6 %	(693.89)	(74.8 %)	1,705.80	(16.9 %)	0.43
Q2 2014	2,493.85	4.1 %	3,643.60	6.1 %	(598.15)	(94.1 %)	1,948.95	(8.2 %)	0.49
Q3 2014	2,378.18	(1.9 %)	3,439.41	0.3 %	(597.10)	14.2 %	1,661.61	(3.2 %)	0.42
Q4 2014	2,518.88	2.0 %	3,086.04	(12.9 %)	(423.04)	55.4 %	1,519.81	(1.7 %)	0.38
2014	9,817.32	1.7 %	13,666.97	(1.3 %)	(2,312.18)	1.6 %	6,836.17	(8.1 %)	1.71
Q1 2015	2,463.48	1.5 %	3,422.25	(2.2 %)	(521.78)	24.8 %	1,518.55	(11.0 %)	0.38
Q2 2015	2,514.14	0.8 %	3,534.65	(3.0 %)	(467.43)	21.9 %	1,941.37	(0.4 %)	0.49
Q3 2015	2,494.69	4.9 %	3,195.06	(7.1 %)	(419.97)	29.7 %	1,721.40	3.6 %	0.43
Q4 2015	2,486.63	(1.3 %)	3,593.81	16.5 %	(548.84)	(29.7 %)	1,948.77	28.2 %	0.49
2015	9,958.94	1.4 %	13,745.78	0.6 %	(1,958.03)	15.3 %	7,130.08	4.3 %	1.78
Q1 2016	2,574.33	4.5 %	3,695.05	8.0 %	(537.49)	(3.0 %)	2,017.27	32.8 %	0.50
Q2 2016	2,780.55	10.6 %	3,923.66	11.0 %	(555.28)	(18.8 %)	2,051.93	5.7 %	0.51
Q3 2016	2,914.48	16.8 %	3,877.85	21.4 %	(541.44)	(28.9 %)	2,009.49	16.7 %	0.50
Q4 2016	2,921.23	17.5 %	3,812.32	6.1 %	(508.04)	7.4 %	2,047.27	5.1 %	0.51
2016	11,223.09	12.7 %	15,341.38	11.6 %	(2,142.24)	(9.4 %)	8,125.96	14.0 %	2.03
Q1 2017	2,885.74	12.1 %	3,853.09	4.3 %	(372.41)	30.7 %	2,220.90	10.1 %	0.56
Q2 2017	2,954.42	6.3 %	3,876.96	(1.2 %)	(405.29)	27.0 %	2,181.65	6.3 %	0.55
Q3 2017	3,032.11	4.0 %	3,976.36	2.5 %	(409.88)	24.3 %	2,265.21	12.7 %	0.57
Q4 2017	3,157.15	8.1 %	4,198.45	10.1 %	(360.00)	29.1 %	2,452.97	19.8 %	0.61
2017	12,029.42	7.2 %	15,904.85	3.7 %	(1,547.58)	27.8 %	9,120.73	12.2 %	2.28
Q1 2018	3,441.33	19.3 %	4,142.41	7.5 %	(450.43)	(21.0 %)	2,306.28	3.8 %	0.58
Q2 2018	3,551.95	20.2 %	4,288.07	10.6 %	(333.22)	17.8 %	2,474.22	13.4 %	0.62
Q3 2018	3,682.34	21.4 %	4,383.35	10.2 %	(417.26)	(1.8 %)	2,515.98	11.1 %	0.63
Q4 2018	3,811.37	20.7 %	4,505.69	7.3 %	(330.03)	8.3 %	(3528.54)	(243.8 %)	(0.88)
2018	14,486.99	20.4 %	17,319.52	8.9 %	(1,530.95)	1.1 %	3,767.95	(58.7 %)	0.94
Q1 2019	3,943.96	14.6 %	4,638.94	12.0 %	(389.42)	13.5 %	2,567.99	11.3 %	0.64
Q2 2019	4,060.69	14.3 %	4,861.11	13.4 %	(385.63)	(15.7 %)	2,533.91	2.4 %	0.63
Q3 2019	4,163.61	13.1 %	4,981.23	13.6 %	(332.27)	20.4 %	2,738.82	8.9 %	0.68
Q4 2019	4,259.46	11.8 %	5,003.18	11.0 %	(664.95)	(101.5 %)	2,317.81	165.7 %	0.58
2019	16,427.72	13.4 %	19,484.46	12.5 %	(1,772.27)	(15.8 %)	10,158.53	169.6 %	2.54
Q1 2020	4,110.48	4.2 %	4,967.56	7.1 %	(692.81)	(77.9 %)	2,380.15	(7.3 %)	0.60
Q2 2020	3,967.69	(2.3 %)	4,807.76	(1.1 %)	(457.96)	(18.8 %)	2,436.10	(3.9 %)	0.61
Q3 2020	4,196.45	0.8 %	5,152.13	3.4 %	(464.94)	(39.9 %)	2,657.85	(3.0 %)	0.66
Q4 2020	4,638.39	8.9 %	5,793.81	15.8 %	(550.04)	17.3 %	3,121.45	34.7 %	0.78
2020	16,913.02	3.0 %	20,721.26	6.3 %	(2,165.74)	(22.2 %)	10,595.55	4.3 %	2.65
Q1 2021	4,770.55	16.1 %	5,947.58	19.7 %	(576.99)	16.7 %	3,335.49	40.1 %	0.83
Q2 2021	5,051.78	27.3 %	6,336.32	31.8 %	(583.97)	(27.5 %)	3,604.69	48.0 %	0.90
Q3 2021	5,214.76	24.3 %	6,577.68	27.7 %	(593.81)	(27.7 %)	3,793.75	42.7 %	0.95
Q4 2021	5,354.85	15.4 %	6,854.82	18.3 %	(590.32)	(7.3 %)	4,012.29	28.5 %	1.00
2021	20,391.94	20.6 %	25,716.40	24.1 %	(2,345.09)	(8.3 %)	14,746.21	39.2 %	3.69
Q1 2022	5,340.17	11.9 %	6,956.56	17.0 %	(578.31)	(0.2 %)	4,133.55	23.9 %	1.03
Q2 2022	5,566.76	10.2 %	7,147.86	12.8 %	(580.42)	0.6 %	4,258.30	18.1 %	1.06
Q3 2022	5,687.02	9.1 %	7,206.46	9.6 %	(489.96)	17.5 %	4,354.64	14.8 %	1.09

Period	Net Income from investments and financial activities	Change	Operating Income	Change	Debt Provisions	Change	Net Income	Change	EPS(Riyal)
2012	9,340.89	3.0 %	13,983.02	11.8 %	(2,319.17)	(41.0 %)	7,884.71	6.9 %	1.97
2013	9,649.07	3.3 %	13,845.04	(1.0 %)	(2,349.69)	(1.3 %)	7,437.99	(5.7 %)	1.86
2014	9,817.32	1.7 %	13,666.97	(1.3 %)	(2,312.18)	1.6 %	6,836.17	(8.1 %)	1.71
2015	9,958.94	1.4 %	13,745.78	0.6 %	(1,958.03)	15.3 %	7,130.08	4.3 %	1.78
2016	11,223.09	12.7 %	15,341.38	11.6 %	(2,142.24)	(9.4 %)	8,125.96	14.0 %	2.03
2017	12,029.42	7.2 %	15,904.85	3.7 %	(1,547.58)	27.8 %	9,120.73	12.2 %	2.28
2018	14,486.99	20.4 %	17,319.52	8.9 %	(1,530.95)	1.1 %	3,767.95	(58.7 %)	0.94
2019	16,427.72	13.4 %	19,484.46	12.5 %	(1,772.27)	(15.8 %)	10,158.53	169.6 %	2.54
2020	16,913.02	3.0 %	20,721.26	6.3 %	(2,165.74)	(22.2 %)	10,595.55	4.3 %	2.65
2021	20,391.94	20.6 %	25,716.40	24.1 %	(2,345.09)	(8.3 %)	14,746.21	39.2 %	3.69

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Profit/Investment Income & Other Financing Operations
Q1 2013	3.11 %	23.22 %	80.97 %
Q2 2013	3.11 %	22.04 %	79.92 %
Q3 2013	3.00 %	21.79 %	77.81 %
Q4 2013	2.72 %	19.84 %	73.54 %
2013	2.72 %	19.84 %	73.54 %
Q1 2014	2.52 %	18.69 %	69.90 %
Q2 2014	2.43 %	17.70 %	67.67 %
Q3 2014	2.40 %	17.73 %	67.40 %
Q4 2014	2.33 %	17.01 %	66.94 %
2014	2.33 %	17.01 %	66.94 %
Q1 2015	2.19 %	16.15 %	64.97 %
Q2 2015	2.13 %	15.67 %	64.89 %
Q3 2015	2.15 %	15.69 %	64.99 %
Q4 2015	2.29 %	16.11 %	69.50 %
2015	2.29 %	16.11 %	69.50 %
Q1 2016	2.37 %	17.11 %	73.30 %
Q2 2016	2.35 %	16.62 %	72.26 %
Q3 2016	2.45 %	16.95 %	71.49 %
Q4 2016	2.48 %	16.49 %	69.15 %
2016	2.48 %	16.49 %	69.15 %
Q1 2017	2.52 %	16.92 %	68.98 %
Q2 2017	2.50 %	16.48 %	68.88 %
Q3 2017	2.61 %	16.90 %	70.37 %
Q4 2017	2.67 %	16.94 %	72.50 %
2017	2.67 %	16.94 %	72.50 %
Q1 2018	2.69 %	18.07 %	70.20 %
Q2 2018	2.74 %	17.86 %	69.40 %
Q3 2018	2.81 %	18.51 %	68.09 %
Q4 2018	1.07 %	7.24 %	25.13 %
2018	1.07 %	7.24 %	25.13 %
Q1 2019	1.13 %	7.95 %	25.96 %
Q2 2019	1.14 %	7.97 %	25.50 %
Q3 2019	1.19 %	8.56 %	26.12 %
Q4 2019	2.72 %	20.42 %	59.89 %
2019	2.72 %	20.42 %	59.89 %
Q1 2020	2.64 %	19.83 %	58.21 %
Q2 2020	2.51 %	19.41 %	57.98 %
Q3 2020	2.45 %	18.89 %	57.50 %
Q4 2020	2.48 %	19.39 %	60.97 %
2020	2.48 %	19.39 %	60.97 %
Q1 2021	2.56 %	21.23 %	64.03 %
Q2 2021	2.64 %	22.79 %	66.24 %
Q3 2021	2.74 %	23.38 %	67.76 %
Q4 2021	2.70 %	23.52 %	68.77 %
2021	2.70 %	23.52 %	68.77 %
Q1 2022	2.66 %	23.72 %	69.34 %
Q2 2022	2.58 %	23.98 %	68.48 %
Q3 2022	2.53 %	23.40 %	65.92 %

Period	Return On Average Assets	Return on Average Equity	Net Profit/Investment Income & Other Financing Operations
2012	3.23 %	22.54 %	81.40 %
2013	2.72 %	19.84 %	73.54 %
2014	2.33 %	17.01 %	66.94 %
2015	2.29 %	16.11 %	69.50 %
2016	2.48 %	16.49 %	69.15 %
2017	2.67 %	16.94 %	72.50 %
2018	1.07 %	7.24 %	25.13 %
2019	2.72 %	20.42 %	59.89 %
2020	2.48 %	19.39 %	60.97 %
2021	2.70 %	23.52 %	68.77 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Financing Investments	Change
Q1 2013	275.61	17.7 %	231.81	24.6 %	180.49	18.9 %
Q2 2013	273.28	14.7 %	227.42	22.3 %	184.89	16.9 %
Q3 2013	272.98	10.4 %	225.52	15.6 %	185.45	12.0 %
Q4 2013	279.87	4.7 %	231.59	4.6 %	186.81	8.6 %
Q1 2014	288.04	4.5 %	238.52	2.9 %	193.05	7.0 %
Q2 2014	295.15	8.0 %	245.42	7.9 %	200.93	8.7 %
Q3 2014	298.71	9.4 %	250.03	10.9 %	203.65	9.8 %
Q4 2014	307.71	9.9 %	256.08	10.6 %	205.94	10.2 %
Q1 2015	320.43	11.2 %	268.48	12.6 %	205.12	6.3 %
Q2 2015	327.07	10.8 %	269.42	9.8 %	210.62	4.8 %
Q3 2015	325.21	8.9 %	271.55	8.6 %	209.91	3.1 %
Q4 2015	315.62	2.6 %	257.82	0.7 %	210.22	2.1 %
Q1 2016	323.30	0.9 %	266.42	(0.8 %)	216.39	5.5 %
Q2 2016	331.38	1.3 %	272.65	1.2 %	224.52	6.6 %
Q3 2016	330.52	1.6 %	272.60	0.4 %	225.86	7.6 %
Q4 2016	339.71	7.6 %	272.59	5.7 %	224.99	7.0 %
Q1 2017	337.23	4.3 %	271.29	1.8 %	229.42	6.0 %
Q2 2017	345.60	4.3 %	285.39	4.7 %	232.80	3.7 %
Q3 2017	338.03	2.3 %	270.10	(0.9 %)	233.18	3.2 %
Q4 2017	343.12	1.0 %	273.06	0.2 %	233.54	3.8 %
Q1 2018	348.43	3.3 %	283.94	4.7 %	228.23	(0.5 %)
Q2 2018	347.59	0.6 %	280.39	(1.8 %)	226.54	(2.7 %)
Q3 2018	355.58	5.2 %	288.84	6.9 %	232.02	(0.5 %)
Q4 2018	364.03	6.1 %	293.91	7.6 %	231.76	(0.8 %)
Q1 2019	363.05	4.2 %	293.50	3.4 %	234.83	2.9 %
Q2 2019	369.20	6.2 %	300.56	7.2 %	238.50	5.3 %
Q3 2019	367.87	3.5 %	298.81	3.5 %	244.59	5.4 %
Q4 2019	384.09	5.5 %	312.41	6.3 %	249.68	7.7 %
Q1 2020	391.90	7.9 %	315.66	7.5 %	261.39	11.3 %
Q2 2020	417.68	13.1 %	334.66	11.3 %	274.93	15.3 %
Q3 2020	430.30	17.0 %	345.32	15.6 %	289.73	18.5 %
Q4 2020	468.82	22.1 %	382.63	22.5 %	315.71	26.4 %
Q1 2021	512.23	30.7 %	421.27	33.5 %	356.14	36.3 %
Q2 2021	546.14	30.8 %	447.51	33.7 %	390.30	42.0 %
Q3 2021	582.66	35.4 %	478.33	38.5 %	420.95	45.3 %
Q4 2021	623.64	33.0 %	512.07	33.8 %	452.83	43.4 %
Q1 2022	657.34	28.3 %	507.89	20.6 %	484.53	36.0 %
Q2 2022	709.28	29.9 %	552.96	23.6 %	519.70	33.2 %
Q3 2022	739.96	27.0 %	555.77	16.2 %	557.50	32.4 %

Period	Assets	Change	Customer Deposits	Change	Financing Investments	Change
3m 2013	275.61	17.7 %	231.81	24.6 %	180.49	18.9 %
6m 2013	273.28	14.7 %	227.42	22.3 %	184.89	16.9 %
9m 2013	272.98	10.4 %	225.52	15.6 %	185.45	12.0 %
12m 2013	279.87	4.7 %	231.59	4.6 %	186.81	8.6 %
3m 2014	288.04	4.5 %	238.52	2.9 %	193.05	7.0 %
6m 2014	295.15	8.0 %	245.42	7.9 %	200.93	8.7 %
9m 2014	298.71	9.4 %	250.03	10.9 %	203.65	9.8 %
12m 2014	307.71	9.9 %	256.08	10.6 %	205.94	10.2 %
3m 2015	320.43	11.2 %	268.48	12.6 %	205.12	6.3 %
6m 2015	327.07	10.8 %	269.42	9.8 %	210.62	4.8 %
9m 2015	325.21	8.9 %	271.55	8.6 %	209.91	3.1 %
12m 2015	315.62	2.6 %	257.82	0.7 %	210.22	2.1 %
3m 2016	323.30	0.9 %	266.42	(0.8 %)	216.39	5.5 %
6m 2016	331.38	1.3 %	272.65	1.2 %	224.52	6.6 %
9m 2016	330.52	1.6 %	272.60	0.4 %	225.86	7.6 %
12m 2016	339.71	7.6 %	272.59	5.7 %	224.99	7.0 %
3m 2017	337.23	4.3 %	271.29	1.8 %	229.42	6.0 %
6m 2017	345.60	4.3 %	285.39	4.7 %	232.80	3.7 %
9m 2017	338.03	2.3 %	270.10	(0.9 %)	233.18	3.2 %
12m 2017	343.12	1.0 %	273.06	0.2 %	233.54	3.8 %
3m 2018	348.43	3.3 %	283.94	4.7 %	228.23	(0.5 %)
6m 2018	347.59	0.6 %	280.39	(1.8 %)	226.54	(2.7 %)
9m 2018	355.58	5.2 %	288.84	6.9 %	232.02	(0.5 %)
12m 2018	364.03	6.1 %	293.91	7.6 %	231.76	(0.8 %)
3m 2019	363.05	4.2 %	293.50	3.4 %	234.83	2.9 %
6m 2019	369.20	6.2 %	300.56	7.2 %	238.50	5.3 %
9m 2019	367.87	3.5 %	298.81	3.5 %	244.59	5.4 %
12m 2019	384.09	5.5 %	312.41	6.3 %	249.68	7.7 %
3m 2020	391.90	7.9 %	315.66	7.5 %	261.39	11.3 %
6m 2020	417.68	13.1 %	334.66	11.3 %	274.93	15.3 %
9m 2020	430.30	17.0 %	345.32	15.6 %	289.73	18.5 %
12m 2020	468.82	22.1 %	382.63	22.5 %	315.71	26.4 %
3m 2021	512.23	30.7 %	421.27	33.5 %	356.14	36.3 %
6m 2021	546.14	30.8 %	447.51	33.7 %	390.30	42.0 %
9m 2021	582.66	35.4 %	478.33	38.5 %	420.95	45.3 %
12m 2021	623.64	33.0 %	512.07	33.8 %	452.83	43.4 %
3m 2022	657.34	28.3 %	507.89	20.6 %	484.53	36.0 %
6m 2022	709.28	29.9 %	552.96	23.6 %	519.70	33.2 %
9m 2022	739.96	27.0 %	555.77	16.2 %	557.50	32.4 %

Period	Assets	Change	Customer Deposits	Change	Financing Investments	Change
2012	267.38	21.1 %	221.34	24.5 %	171.94	22.5 %
2013	279.87	4.7 %	231.59	4.6 %	186.81	8.6 %
2014	307.71	9.9 %	256.08	10.6 %	205.94	10.2 %
2015	315.62	2.6 %	257.82	0.7 %	210.22	2.1 %
2016	339.71	7.6 %	272.59	5.7 %	224.99	7.0 %
2017	343.12	1.0 %	273.06	0.2 %	233.54	3.8 %
2018	364.03	6.1 %	293.91	7.6 %	231.76	(0.8 %)
2019	384.09	5.5 %	312.41	6.3 %	249.68	7.7 %
2020	468.82	22.1 %	382.63	22.5 %	315.71	26.4 %
2021	623.64	33.0 %	512.07	33.8 %	452.83	43.4 %

Ratios

Period	Customer Deposits Per Total Assets	Financing Investments/Customer Deposits	Financing Investments/Total Assets
Q1 2013	84.11 %	77.86 %	65.49 %
Q2 2013	83.22 %	81.30 %	67.66 %
Q3 2013	82.61 %	82.23 %	67.93 %
Q4 2013	82.75 %	80.67 %	66.75 %
Q1 2014	82.81 %	80.94 %	67.02 %
Q2 2014	83.15 %	81.87 %	68.07 %
Q3 2014	83.70 %	81.45 %	68.17 %
Q4 2014	83.22 %	80.42 %	66.93 %
Q1 2015	83.79 %	76.40 %	64.01 %
Q2 2015	82.38 %	78.17 %	64.40 %
Q3 2015	83.50 %	77.30 %	64.55 %
Q4 2015	81.69 %	81.54 %	66.60 %
Q1 2016	82.41 %	81.22 %	66.93 %
Q2 2016	82.28 %	82.35 %	67.75 %
Q3 2016	82.48 %	82.86 %	68.34 %
Q4 2016	80.24 %	82.54 %	66.23 %
Q1 2017	80.45 %	84.57 %	68.03 %
Q2 2017	82.58 %	81.57 %	67.36 %
Q3 2017	79.90 %	86.33 %	68.98 %
Q4 2017	79.58 %	85.53 %	68.06 %
Q1 2018	81.49 %	80.38 %	65.50 %
Q2 2018	80.67 %	80.80 %	65.18 %
Q3 2018	81.23 %	80.33 %	65.25 %
Q4 2018	80.74 %	78.85 %	63.66 %
Q1 2019	80.84 %	80.01 %	64.68 %
Q2 2019	81.41 %	79.35 %	64.60 %
Q3 2019	81.23 %	81.85 %	66.49 %
Q4 2019	81.34 %	79.92 %	65.01 %
Q1 2020	80.55 %	82.81 %	66.70 %
Q2 2020	80.12 %	82.15 %	65.82 %
Q3 2020	80.25 %	83.90 %	67.33 %
Q4 2020	81.61 %	82.51 %	67.34 %
Q1 2021	82.24 %	84.54 %	69.53 %
Q2 2021	81.94 %	87.22 %	71.46 %
Q3 2021	82.09 %	88.00 %	72.25 %
Q4 2021	82.11 %	88.43 %	72.61 %
Q1 2022	77.26 %	95.40 %	73.71 %
Q2 2022	77.96 %	93.99 %	73.27 %
Q3 2022	75.11 %	100.31 %	75.34 %

Period	Customer Deposits Per Total Assets	Financing Investments/Customer Deposits	Financing Investments/Total Assets
2012	82.78 %	77.68 %	64.31 %
2013	82.75 %	80.67 %	66.75 %
2014	83.22 %	80.42 %	66.93 %
2015	81.69 %	81.54 %	66.60 %
2016	80.24 %	82.54 %	66.23 %
2017	79.58 %	85.53 %	68.06 %
2018	80.74 %	78.85 %	63.66 %
2019	81.34 %	79.92 %	65.01 %
2020	81.61 %	82.51 %	67.34 %
2021	82.11 %	88.43 %	72.61 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2013	4,000.00	1.98	1.98	-	8.92
Q2 2013	4,000.00	1.99	1.99	-	9.38
Q3 2013	4,000.00	1.95	1.95	-	9.24
Q4 2013	4,000.00	1.86	1.86	-	9.62
Q1 2014	4,000.00	1.77	1.77	-	10.05
Q2 2014	4,000.00	1.73	1.73	-	10.17
Q3 2014	4,000.00	1.72	1.72	-	10.11
Q4 2014	4,000.00	1.71	1.71	-	10.47
Q1 2015	4,000.00	1.66	1.66	-	10.54
Q2 2015	4,000.00	1.66	1.66	-	11.02
Q3 2015	4,000.00	1.68	1.68	-	11.24
Q4 2015	4,000.00	1.78	1.78	-	11.66
Q1 2016	4,000.00	1.91	1.91	-	11.75
Q2 2016	4,000.00	1.93	1.93	-	12.26
Q3 2016	4,000.00	2.01	2.01	-	12.45
Q4 2016	4,000.00	2.03	2.03	-	12.99
Q1 2017	4,000.00	2.08	2.08	-	12.86
Q2 2017	4,000.00	2.11	2.11	-	13.40
Q3 2017	4,000.00	2.18	2.18	-	13.34
Q4 2017	4,000.00	2.28	2.28	-	13.94
Q1 2018	4,000.00	2.30	2.30	-	12.61
Q2 2018	4,000.00	2.37	2.37	-	13.20
Q3 2018	4,000.00	2.44	2.44	-	12.99
Q4 2018	4,000.00	0.94	2.29	-	12.08
Q1 2019	4,000.00	1.01	2.36	-	12.74
Q2 2019	4,000.00	1.02	2.37	-	12.45
Q3 2019	4,000.00	1.08	2.43	-	12.19
Q4 2019	4,000.00	2.54	2.54	-	12.80
Q1 2020	4,000.00	2.49	2.49	-	12.40
Q2 2020	4,000.00	2.47	2.47	-	12.98
Q3 2020	4,000.00	2.45	2.45	-	13.73
Q4 2020	4,000.00	2.65	2.65	-	14.53
Q1 2021	4,000.00	2.89	2.89	-	14.81
Q2 2021	4,000.00	3.18	3.18	-	14.92
Q3 2021	4,000.00	3.46	3.46	-	15.90
Q4 2021	4,000.00	3.69	3.69	-	16.82
Q1 2022	4,000.00	3.89	3.89	-	17.97
Q2 2022	4,000.00	4.05	4.05	-	18.85
Q3 2022	4,000.00	4.19	4.19	-	19.90

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2012	4,000.00	1.97	1.97	-	9.12
2013	4,000.00	1.86	1.86	-	9.62
2014	4,000.00	1.71	1.71	-	10.47
2015	4,000.00	1.78	1.78	-	11.66
2016	4,000.00	2.03	2.03	-	12.99
2017	4,000.00	2.28	2.28	-	13.94
2018	4,000.00	0.94	2.29	-	12.08
2019	4,000.00	2.54	2.54	-	12.80
2020	4,000.00	2.65	2.65	-	14.53
2021	4,000.00	3.69	3.69	-	16.82

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	12.45	12.45	2.77
Q2 2013	13.58	13.58	2.88
Q3 2013	14.86	14.86	3.14
Q4 2013	14.73	14.73	2.85
Q1 2014	15.82	15.82	2.79
Q2 2014	15.85	15.85	2.70
Q3 2014	16.89	16.89	2.87
Q4 2014	12.23	12.23	2.00
Q1 2015	14.05	14.05	2.22
Q2 2015	14.91	14.91	2.25
Q3 2015	13.34	13.34	1.99
Q4 2015	11.88	11.88	1.82
Q1 2016	11.06	11.06	1.79
Q2 2016	12.28	12.28	1.94
Q3 2016	10.45	10.45	1.69
Q4 2016	12.62	12.62	1.97
Q1 2017	12.46	12.46	2.02
Q2 2017	13.40	13.40	2.12
Q3 2017	12.30	12.30	2.01
Q4 2017	11.52	11.52	1.88
Q1 2018	13.33	13.33	2.43
Q2 2018	14.77	14.77	2.66
Q3 2018	14.66	14.66	2.75
Q4 2018	37.75	15.51	2.94
Q1 2019	43.73	18.68	3.46
Q2 2019	42.62	18.36	3.50
Q3 2019	36.70	16.29	3.25
Q4 2019	16.10	16.10	3.19
Q1 2020	13.49	13.49	2.71
Q2 2020	14.33	14.33	2.73
Q3 2020	16.78	16.78	2.99
Q4 2020	17.37	17.37	3.17
Q1 2021	21.39	21.39	4.17
Q2 2021	21.82	21.82	4.65
Q3 2021	22.12	22.12	4.82
Q4 2021	24.04	24.04	5.27
Q1 2022	25.83	25.83	5.59
Q2 2022	20.37	20.37	4.38
Q3 2022	19.40	19.40	4.09

Period	P/E	Adjusted P/E	Price/book
2012	12.37	12.37	2.67
2013	14.73	14.73	2.85
2014	12.23	12.23	2.00
2015	11.88	11.88	1.82
2016	12.62	12.62	1.97
2017	11.52	11.52	1.88
2018	37.75	15.51	2.94
2019	16.10	16.10	3.19
2020	17.37	17.37	3.17
2021	24.04	24.04	5.27

Business Segments (Million)

Compared With The

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage	Others..
Q1 2013	2,442.26	453.00	333.00	213.00	-
Q2 2013	2,558.28	340.35	329.32	206.93	-
Q3 2013	2,574.82	513.26	246.41	93.12	-
Q4 2013	2,250.99	540.62	547.20	202.47	-
Q1 2014	2,473.81	455.85	345.28	223.00	-
Q2 2014	2,388.47	646.75	289.71	318.67	-
Q3 2014	2,651.16	501.66	381.88	(95.29)	-
Q4 2014	2,726.69	(47.16)	293.61	112.90	-
Q1 2015	2,589.61	373.42	306.52	152.70	-
Q2 2015	2,561.53	515.14	282.74	175.25	-
Q3 2015	2,417.29	521.88	146.55	109.35	-
Q4 2015	2,812.27	242.32	345.11	194.11	-
Q1 2016	2,687.48	387.37	447.63	172.57	-
Q2 2016	2,917.24	409.74	472.94	156.25	-
Q3 2016	2,823.92	605.71	322.21	126.01	-
Q4 2016	2,589.42	591.98	516.81	114.11	-
Q1 2017	2,932.19	689.54	109.86	121.49	-
Q2 2017	2,673.54	438.84	666.59	97.99	-
Q3 2017	2,787.15	602.89	482.72	103.61	-
Q4 2017	3,445.50	578.22	47.58	127.16	-
Q1 2018	2,770.66	580.10	653.28	138.37	-
Q2 2018	2,874.80	573.65	704.21	135.40	-
Q3 2018	2,968.91	575.21	722.65	116.59	-
Q4 2018	3,009.07	586.02	764.00	146.61	-
Q1 2019	3,164.28	638.35	733.97	102.34	-
Q2 2019	3,429.66	618.86	701.17	111.42	-
Q3 2019	3,500.25	627.28	755.75	97.96	-
Q4 2019	3,496.63	647.44	707.46	151.65	-
Q1 2020	3,470.22	631.90	750.56	114.88	-
Q2 2020	3,400.41	488.18	766.88	152.30	-
Q3 2020	2,996.99	740.72	1,155.71	258.72	-
Q4 2020	3,555.06	784.33	1,174.94	279.47	-
Q1 2021	3,500.80	744.34	1,408.57	293.87	-
Q2 2021	3,533.29	749.68	1,795.10	258.25	-
Q3 2021	3,393.98	860.61	2,108.46	214.63	-
Q4 2021	3,622.46	490.01	2,534.96	207.38	-
Q1 2022	3,240.62	909.28	2,546.87	259.81	-
Q2 2022	3,509.87	1,073.54	2,270.14	278.07	-
Q3 2022	3,875.36	1,260.43	1,850.31	220.36	-

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage	Others..
2012	9,556.62	1,925.78	1,250.44	1,250.18	-
2013	9,826.35	1,847.22	1,455.94	715.53	-
2014	10,240.13	1,557.09	1,310.47	559.28	-
2015	10,380.70	1,652.75	1,080.91	631.41	-
2016	11,018.06	1,994.79	1,759.59	568.95	-
2017	11,838.38	2,309.49	1,306.74	450.25	-
2018	11,623.44	2,314.98	2,844.13	536.97	-
2019	13,590.82	2,531.92	2,898.35	463.38	-
2020	13,361.37	2,614.69	3,939.83	805.37	-
2021	14,050.54	2,844.64	7,847.08	974.14	-

Analysts Estimates (Million)

Item	Q3 2022 (e)	Q3 2022 (a)	Change‬
Average	4,368.47	4,354.64	(0.3 %)

Estimates vs Actual (Million)

Item	Q3 2022 (e)	Q3 2022 (a)	Change
SNB Capital	4,383.00	4,354.64	(0.6) %
AlJazira Capital	4,324.50	4,354.64	0.7 %
Sico	4,301.00	4,354.64	1.2 %
OSOOL AND BAKHEET	4,411.94	4,354.64	(1.3) %
Hermes	4,414.00	4,354.64	(1.3) %
U-Capital	4,441.30	4,354.64	(2.0) %
Riyad Capital	4,472.00	4,354.64	(2.6) %
Goldman Sachs	4,200.00	4,354.64	3.7 %

Financial Ratios

	Current
Market Cap (M)	316,400.00
Shares Outstanding ((M))	4,000.00
EPS ( Riyal) (TTM)	4.22
EPS Diluted ( Riyal) (TTM)	4.01
Book Value (BV) ( Riyal)	22.38
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	18.74
P/E (TTM)	18.74
Price/book	3.54
Return on Average Assets (%) (TTM)	2.1
Return on Average Equity (%) (TTM)	19.6

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Al Rajhi Bank’s 9M 2022 profit jumps 19% to SAR 12.746 bln; Q3 at SAR 4.355 bln

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Al Rajhi Bank’s 9M 2022 profit jumps 19% to SAR 12.746 bln; Q3 at SAR 4.355 bln

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Share Price

Al Rajhi Bank (ALRAJHI)

Financials (M)

Current Quarter Comparison (M)

Balance Sheet (B)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Balance Sheet (B)

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