Al Rajhi Bank maintains precautionary provisioning, NPL coverage rises to 293%: Chairman

Al Rajhi Bank continued to maintain its precautionary provisioning policy, chairman Abdullah bin Sulaiman Al Rajhi said in a press statement.

He added that the non-performing loan (NPL) coverage ratio increased to 293%.

The bank reported a net profit of SAR 7.4 billion for the first nine months of 2020, a decrease of 5%, compared to SAR 7.8 billion in the same period a year earlier. 

The bank’s net profit for Q3 2020 declined 3% YoY to SAR 2.6 billion.