Shares of Al Rajhi Bank hit all-time high

Logo of Al Rajhi Bank 

Shares of Al Rajhi Bank ended today’s session 4% higher at SAR 156; its highest close since listing, with a robust trading volume of nearly SAR 10 million.

According to data available on Argaam, Al Rajhi Bank’s profit increased 39% year-on-year (YoY) to SAR 14.746 billion in 2021.

Al Rajhi Bank was founded 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-Shemaysi neighborhood.

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

The company was listed on the Saudi Stock Exchange (Tadawul) 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 General Organization for Social Insurance (GOSI) is the major shareholder in Al Rajhi Bank with a stake of 9.61%.