Al Rajhi Bank 2021 profit up 39% to SAR 14.746 bln, Q4 earnings at SAR 4.012 bln

13/02/2022 Argaam Exclusive

Al Rajhi Bank reported a net profit of SAR 14.746 billion for 2021, a rise of 39% from SAR 10.596 billion in the year-ago period.



Financials (M)

Item 2020 2021 Change‬
Net Income from investments and financial activities 16,913.02 20,391.94 20.6 %
Operating Income 20,721.26 25,716.40 24.1 %
Total Provisions (2165.74) (2345.09) (8.3 %)
Net Income 10,595.55 14,746.21 39.2 %
Average Shares 4,000.00 4,000.00 -
EPS (Riyals) 2.65 3.69 39.2 %

The increase in profit was driven by higher gross operating income due to an increase in net financing and investment income, income fees from banking services, other operating income, and exchange income.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Net Income from investments and financial activities 4,638.39 5,354.85 15.4 %
Operating Income 5,793.81 6,854.82 18.3 %
Debt Provisions (550.04) (590.32) (7.3 %)
Net Income 3,121.45 4,012.29 28.5 %
Average Shares 4,000.00 4,000.00 -
EPS (Riyals) 0.78 1.00 28.5 %

The bank’s Q4 2021 net profit rose 29% year-on-year (YoY) to SAR 4.012 billion.

 

On a sequential basis, the bank’s net profit edged up 5.8% from SAR 3.793 billion.

Balance Sheet (B)

Item 2020 2021 Change‬
Assets 468.82 623.64 33.0 %
Customer Deposits 382.63 512.07 33.8 %
Financing Investments 315.71 452.83 43.4 %

Total shareholders’ equity, excluding minority interests, grew by 15.8% to SAR 67.309 billion as of Dec. 31, 2021, from SAR 58.119 billion a year earlier.

 

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Share Price

Al Rajhi Bank
88.00
(0.30) (0.34 %)

Al Rajhi Bank (ALRAJHI)

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Financial Ratios
Current
Market Cap (M) 352,000.00
Shares Outstanding ((M)) 4,000.00
EPS ( Riyal) (TTM) 4.59
EPS Diluted ( Riyal) (TTM) 4.37
Book Value (BV) ( Riyal) 23.81
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.15
P/E (TTM) 19.15
Price/book 3.70
Return on Average Assets (%) (TTM) 2.2
Return on Average Equity (%) (TTM) 20.3
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