Al Rajhi Bank’s net profit declines 6% to SAR 4.8 bln in H1 2020

23/07/2020 Argaam Exclusive

View other reports

Al Rajhi Bank reported a decline of 6% in H1 2020 net profit to SAR 4.81 billion, from SAR 5.10 billion in year earlier period, due to increased operating expenses, salaries and employees’ related benefits, depreciation expenses and general and other administrative expenses. Moreover, credit impairment charges also rose from SAR 775 million to SAR 1.15 billion.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Net Income from investments and financial activities	8,004.65	8,078.18	0.9 %
Operating Income	9,500.05	9,775.33	2.9 %
Total Provisions	(775.05)	(1150.76)	(48.5 %)
Net Income	5,101.89	4,816.25	(5.6 %)
Average Shares	4,000.00	4,000.00	-
EPS (Riyals)	1.28	1.20	(5.6 %)

In Q2 2020, Al Rajhi Bank’s net profit decreased by 4% to SAR 2.43 billion, compared to a net profit of SAR 2.53 billion in Q2 2019, on higher operating expenses, as well as salaries and employees related benefits, and depreciation.

When compared to the previous quarter, Q2 net profit grew by 2.3%, thanks to a decline in operating expenses, salaries and employees’ benefits. The bank reported an increase in other operating income.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Net Income from investments and financial activities	4,060.69	3,967.69	(2.3 %)
Operating Income	4,861.11	4,807.76	(1.1 %)
Debt Provisions	(385.63)	(457.96)	(18.8 %)
Net Income	2,533.91	2,436.10	(3.9 %)
Average Shares	4,000.00	4,000.00	-
EPS (Riyals)	0.63	0.61	(3.9 %)

Item	Q1 2020	Q2 2020	Change‬
Net Income from investments and financial activities	4,110.48	3,967.69	(3.5 %)
Operating Income	4,967.56	4,807.76	(3.2 %)
Debt Provisions	(692.81)	(457.96)	33.9 %
Net Income	2,380.15	2,436.10	2.4 %
Average Shares	4,000.00	4,000.00	-
EPS (Riyals)	0.60	0.61	2.4 %

Balance Sheet (B)

Item	6m 2019	6m 2020	Change‬
Assets	369.20	417.68	13.1 %
Customer Deposits	300.56	334.66	11.3 %
Financing Investments	238.50	274.93	15.3 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×