Riyadh – Mubasher: The net profits of Al Rajhi Bank stood at SAR 8.29 billion in the first half (H1) of 2023, marking a 1.16% year-on-year (YoY) decline from SAR 8.39 billion.
Earnings per share (EPS) hit SAR 1.97 during the January-June 2023 period, an annual drop from SAR 2.08, according to the initial income statements.
The clients’ deposits hit SAR 570.66 during the first six months (6M) of 2023, up 3.20% from SAR 552.95 billion in the year-ago period.
Assets grew by 10.61% to SAR 784.52 billion in H1-23 from SAR 709.27 billion in H1-22, while investments soared by 25.67% to SAR 121.42 billion from SAR 96.61 billion.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the bank witnessed 2.54% YoY lower net profits at SAR 4.15 billion, compared to SAR 4.25 billion.
On a quarterly basis, the Q2-23 net profits edged up by 0.12% from SAR 4.14 billion in Q1-23.
Dividends
The board members of Al Rajhi Bank approved cash dividends after zakat amounting to SAR 4.60 billion, representing 11.50% of the capital, for H1-23.
The Saudi lender will grant a dividend of SAR 1.15 per share for 4 billion eligible shares.
Eligibility and payment dates for the dividends will be 31 July and 14 August 2023, respectively.
In the three-month period that ended on 31 March 2023, the bank’s net profits went up by 0.27% to SAR 4.14 billion from SAR 4.13 billion in Q1-22.
