Al Rajhi Bank posts 4% profit rise to SAR 10.596 bln in 2020

03/02/2021 Argaam Exclusive

Al Rajhi Bank reported an annual net profit of SAR 10.596 billion for 2020, a rise of 4%, compared to a net profit of SAR 10.158 billion a year earlier.

 

The higher net profit was spurred by a 6.3% year-on-year (YoY) increase in total operating income, amid a rise in net special commission income, income fees from banking services, net exchange income, and other operating income.



Financials (M)

Item 2019 2020 Change‬
Net Income from investments and financial activities 16,427.72 16,913.02 3.0 %
Operating Income 19,484.46 20,721.26 6.3 %
Total Provisions (1772.27) (2165.74) (22.2 %)
Net Income 10,158.53 10,595.55 4.3 %
Average Shares 4,000.00 4,000.00 -
Earnings Per Share before unusual items (Riyals) 2.54 2.65 4.3 %
EPS (Riyals) 2.54 2.65 4.3 %

The fourth-quarter net profit jumped 35% YoY to SAR 3.121 billion.

 

Shareholders’ equity, excluding minority interest, increased by 13.5% YoY to SAR 58.119 billion by the end of 2020.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Net Income from investments and financial activities 4,259.46 4,638.39 8.9 %
Operating Income 5,003.18 5,793.81 15.8 %
Debt Provisions (664.95) (550.04) 17.3 %
Net Income 2,317.81 3,121.45 34.7 %
Average Shares 4,000.00 4,000.00 -
Earnings Per Share before unusual items (Riyals) 0.58 0.78 34.7 %
EPS (Riyals) 0.58 0.78 34.7 %

Balance Sheet (B)

Item 2019 2020 Change‬
Assets 384.09 468.82 22.1 %
Customer Deposits 312.41 382.63 22.5 %
Financing Investments 249.68 315.71 26.4 %

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Share Price

Al Rajhi Bank
100.60
(1.40) (1.37 %)

Al Rajhi Bank (ALRAJHI)

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Financial Ratios
Current
Market Cap (M) 402,400.00
Shares Outstanding ((M)) 4,000.00
EPS ( Riyal) (TTM) 4.93
EPS Diluted ( Riyal) (TTM) 4.67
Book Value (BV) ( Riyal) 24.87
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.40
P/E (TTM) 20.40
Price/book 4.05
Return on Average Assets (%) (TTM) 2.2
Return on Average Equity (%) (TTM) 20.8
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