Abdullah bin Suleiman Al Rajhi, the CEO of Al Rajhi Bank, has announced that the net profit of Al Rajhi Bank for the first 9 months of 2008 reached SR 5,100 million compared to SR 4,874 million for the same period last year (2007), representing a 5% increase. He pointed out that this rise is due to an increase of 10% in the income from the investments and an increase of 30% in the income of the banking services. The CEO also stated that the net income from investments reached SR 6,307 million compared to SR 5,719 million, a 10% rise, and the net income of the banking services reached SR 1,599 million compared to SR 1,229 millionlast year, an increase of 30%. The total transactions' income reached SR 7,906 million compared to SR 6,948 million , up14%, according to a latest press release of Al-Rajhi Bank. He added that the shareholders' rights rose to SR 26 billion compared to SR 22 billion last year, a 16% increase. Total assets increased to SR 163.2 billion compared to SR 124.7 billion last year, an increase of 31%, whereas balances of customers' accounts reached SR 120.3 billion compared to SR 91.1 billion, a 32% rise. The bank has achieved a return on assets of 4.72%, a return on equity of 27.64%, and a profit per share of 3.4 Riyals compared to 3.25 Riyals.
