Al Rajhi Bank closes at lowest level since July 2021

27/02/2023 Argaam Special
Al Rajhi Bank tower

Al Rajhi Bank tower


Shares of Al Rajhi Bank, listed under banking sector, closed in the red today, Feb. 27, tumbling 2% to their lowest levels since July 2021 at SAR 69.90 each.

 

During the session, nearly 7.7 million shares changed hands. The stock reached an intraday low of SAR 69.80.

 

Al Rajhi Bank started operation in 1957. The various individual institutions bearing Al Rajhi name were merged under one umbrella in 1978.

 

Al Rajhi Bank was established as a Saudi joint-stock company in 1988.

 

The bank opened the first branch for men in Aldirah, Riyadh, 1957, and the first women branch was inaugurated in 1979 in Al-Shumaisi district, Makkah.

 

Its core activities include Shariah-compliant commercial banking and investment services.

 

The bank carries out banking and investment business for its own account and for third parties (individuals or companies) inside and outside the Kingdom.

 

Al Rajhi Bank listed on the Saudi Exchange (Tadawul) on Dec. 1, 1988.

 

Al Rajhi Bank’s Stock Performance

Annual High (SAR)

117.40

May 9, 2022

Annual Low (SAR)

69.80

Today, Feb. 27, 2023

Historical High (SAR)

117.40

May 9, 2022

Historical Low (SAR)

2.16

April 30, 1995

Highest Trading Volume (mln shares)

127.42

Dec. 3, 2014

*Data amended according to capital amendments

 

The following table shows the key financial indicators:

 

Key Financial Indicators

Earnings Per Share (TTM) (SAR)

4.29

P/E (TTM) (x)

16.29

Book Value (SAR)

20.93

P/B Ratio (x)

3.34

 

The table below illustrates the bank’s capital developments, according to Tadawul website:

 

Capital development (SAR mln)

Year

Increase Method

Old Capital

New Capital

Change %

2022

Bonus Shares

25000

40000

60%

2019

Bonus Shares

16250

25000

54%

2014

Bonus Shares

15000

16250

8%

2008

Bonus Shares

13500

15000

11%

2007

Bonus Shares

6750

13500

100%

2006

Bonus Shares

4500

6750

50%

2005

Bonus Shares

2250

4500

100%

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