Al Rajhi Bank shares close at all-time high

Logo of Al Rajhi Bank

Shares of Al Rajhi Bank hit today, Feb. 20, their highest level since listing, at SAR 169.80.

Earlier today, the bank’s board of directors recommended a capital increase to SAR 40 billion from SAR 25 billion through a 60% bonus issue (three for five bonus shares).

Al Rajhi Bank started its operations in 1957. 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%.