Al Rajhi Bank continues to strengthen conservative financial policy, NPLs coverage exceed 307%: Chairman

24/10/2021 Argaam

Al Rajhi Bank Chairman Abdullah bin Sulaiman Al Rajhi

Al Rajhi Bank continued to intensify its conservative approach, which reflected positively on the strength of the bank’s financial position, Chairman Abdullah bin Sulaiman Al Rajhi said in a statement.

 

The bank’s coverage ratio of non-performing loans (NPLs) exceeded 307%, he added.

 

The bank’s gross operating income for the first nine months of 2021 increased by 26% year-on-year (YoY) on higher net income from financing and investments, as well as brokerage fees

 

Al Rajhi Bank’s net profit for Q3 2021 increased 4earlier, Argaam reported.

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