Shares of Al Rajhi Bank hit 15-year high

09/03/2021 Argaam Special

Al Rajhi Bank branch


Shares of Al Rajhi Bank rose 5% to close today, March 9, at SAR 97; their highest level since July 2006.

 

The stock recorded a trading volume of 9.5 million shares.

 

Accordingly, the stock gained nearly 90% since March 2020.

 

The bank started its operation in 1957, and later the different individual entities carrying Al Rajhi name were merged in 1978 under the umbrella of Al Rajhi Trading and Exchange Co. The firm became a joint stock company in 1988.

 

The bank opened its first branch for men at Ad Dirah, Riyadh in 1957, and the first branch for women at Al-Shemaysi in 1979.

 

The lender engages in a full range of Shariah-compliant banking and investment operations for own or third-party purposes locally and overseas.

 

The stock was listed on Tadawul on Dec. 1, 1988.

 

Al Rajhi Stock Performance

Annual High (SAR)

97.00

March 9, 2021

Annual Low (SAR)

51.00

March 16, 2020

Historical High (SAR)

154.30

Feb. 26, 2006

Historical Low (SAR)

10.21

Sept. 24, 2002

Highest traded volume (mln shares)

79.66

Dec. 3, 2014

 

The following table shows the most important financial indicators of the bank:

 

Key Financial Indicators

EPS (last 12 months) (SAR)

4.24

P/E (last 12 months) (x)

22.64

Book Value (SAR)

23.25

P/B ratio (x)

4.13

 

The bank increased its capital six times through bonus share distribution to reach SAR 25 billion, according to data available on Tadawul website.

 

Capital Increase (SAR mln)

Year 

Pre-Increase Capital 

Post-Increase Capital 

Variation 

2019

16,250

25,000

54%

2014

15,000

16,250

8%

2008

13,500

15,000

11%

2007

6,750

13,500

100%

2006

4,500

6,750

50%

2005

2,250

4,500

100%

 

The General Organization for Social Insurance (GOSI) is the bank's major shareholder with a 5.86% stake.

 

Major Shareholders

Owner

Percentage

General Organization for Social Insurance

5.86%

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