Al Rajhi Bank shares close all-time high since 2006, gains 65% year-to-date

Shares of Al Rajhi Bank hit today, Aug. 12, their highest level since 2006, or in 15 years, at SAR 122 per share.

The stock closed at an increase of 1% at SAR 121, the highest level since 2006, amid nearly 3.7 million shares traded.

Accordingly, the stock saw a year-to-date increase of 65%.

Al Rajhi Bank started its operations in 1957. Later in 1978, Al Rajhi’s various sole proprietorships were merged under a single umbrella, Al Rajhi Banking Trading Co., and the bank was established as a Saudi joint stock company in 1988.

The bank opened its first men's branch in Riyadh's Deira district in 1957 and the first women's branch in 1979 in Al-Shumaisi neighborhood.

Al Rajhi Bank's objectives are to engage in Sharia-compliant banking and investment. The bank conducts banking and investment work for its account or for third parties (retail or corporates) inside and outside the Kingdom.

According to data available on the Saudi Exchange (Tadawul), Al Rajhi Bank's shares were listed on Dec. 1, 1988.

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

The bank increased its capital six times through issuing bonus shares to reach a current capital of SAR 25 billion.

The Saudi General Organization for Social Insurance (GOSI) is the major shareholder in Al Rajhi Bank with a stake of 9.61%.