Al Rajhi Bank shares hit highest level since 2006

A branch of Al Rajhi Bank

Shares of Al Rajhi Bank recorded today, Oct. 10, their highest level in 15 years, or since April 2006, at SAR 135.20.

The stock closed today’s session more than 3% higher at SAR 134.20 – its highest level since 2006, with a trading volume of around 4.1 million shares.

Accordingly, the stock rose more than 80% year-to-date (YTD).  

Al Rajhi Bank was founded in 1957. In 1978, Al Rajhi Bank merged the various individual establishments under its name into the umbrella of Al Rajhi Trading and Exchange Corporation. The bank was established as a Saudi joint stock company in 1988.

The first branch for men was opened in Aldirah district, Riyadh, in 1957, and the first women branch was inaugurated in 1979 in AlShmaisi district, Makkah.

Al Rajhi Bank is committed to Shariah-compliant investment as well as banking products, both locally and internationally, for itself or third parties.

Al Rajhi Bank shares were listed on the Saudi Stock Exchange (Tadawul) on Dec. 1, 1988, according to data on Tadawul.

Al Rajhi Bank increased capital six times via bonus share distributions to finally reach SAR 25 billion.

The General Organization of Social Insurance (GOSI) is the major shareholder in Al Rajhi Bank, as it owns a stake of 9.61%.