Al Rajhi Bank’s Q1 2022 net profit jumps 24% to SAR 4.134 bln

27/04/2022 Argaam Exclusive

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Al Rajhi Bank posted a net profit of SAR 4.134 billion for Q1 2022, a rise of 24% from SAR 3.335 billion in the year-ago period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2021	Q1 2022	Change‬
Net Income from investments and financial activities	4,770.55	5,340.17	11.9 %
Operating Income	5,947.58	6,956.56	17.0 %
Debt Provisions	(576.99)	(578.31)	(0.2 %)
Net Income	3,335.49	4,133.55	23.9 %
Average Shares	4,000.00	4,000.00	-
EPS (Riyals)	0.83	1.03	23.9 %

Item	Q4 2021	Q1 2022	Change‬
Net Income from investments and financial activities	5,354.85	5,340.17	(0.3 %)
Operating Income	6,854.82	6,956.56	1.5 %
Debt Provisions	(590.32)	(578.31)	2.0 %
Net Income	4,012.29	4,133.55	3.0 %
Average Shares	4,000.00	4,000.00	-
EPS (Riyals)	1.00	1.03	3.0 %

The profit growth was attributed to a 17% rise year-on-year (YoY) in total operating income, due to an increase in net financing and investment income, fees from banking services, other operating income, and exchange income. On the other hand, total operating expenses increased by 5.3% YoY amid higher salaries and employee-related benefits, depreciation expenses, and other general and administrative expenses.

In addition, the bank recorded a 0.2% increase YoY in financing impairment charge from SAR 577 million to SAR 578 million.

On a sequential basis, net profit grew by 3% from SAR 4 billion, on a 1.5% increase YoY in total operating income, along with a 1.4% decline YoY in total operating expenses.

Balance Sheet (B)

Item	3m 2021	3m 2022	Change‬
Assets	512.23	657.34	28.3 %
Customer Deposits	421.27	507.89	20.6 %
Financing Investments	356.14	484.53	36.1 %

Shareholders’ equity, after minority interest, saw an increase of 32.2% to SAR 78.341 billion by the end of Q1 2022, from SAR 59.222 billion a year earlier.

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Financial results (Million)

Period	Net Income from investments and financial activities	Change	Operating Income	Change	Debt Provisions	Change
Q1 2013	2,359.88	1.4 %	3,441.26	0.4 %	(396.86)	15.0 %
Q2 2013	2,394.49	5.4 %	3,434.88	0.2 %	(308.21)	18.5 %
Q3 2013	2,425.27	2.4 %	3,427.61	(5.8 %)	(695.82)	16.1 %
Q4 2013	2,469.42	4.0 %	3,541.28	1.5 %	(948.79)	(47.2 %)
2013	9,649.07	3.3 %	13,845.04	(1.0 %)	(2,349.69)	(1.3 %)
Q1 2014	2,426.42	2.8 %	3,497.93	1.6 %	(693.89)	(74.8 %)
Q2 2014	2,493.85	4.1 %	3,643.60	6.1 %	(598.15)	(94.1 %)
Q3 2014	2,378.18	(1.9 %)	3,439.41	0.3 %	(597.10)	14.2 %
Q4 2014	2,518.88	2.0 %	3,086.04	(12.9 %)	(423.04)	55.4 %
2014	9,817.32	1.7 %	13,666.97	(1.3 %)	(2,312.18)	1.6 %
Q1 2015	2,463.48	1.5 %	3,422.25	(2.2 %)	(521.78)	24.8 %
Q2 2015	2,514.14	0.8 %	3,534.65	(3.0 %)	(467.43)	21.9 %
Q3 2015	2,494.69	4.9 %	3,195.06	(7.1 %)	(419.97)	29.7 %
Q4 2015	2,486.63	(1.3 %)	3,593.81	16.5 %	(548.84)	(29.7 %)
2015	9,958.94	1.4 %	13,745.78	0.6 %	(1,958.03)	15.3 %
Q1 2016	2,574.33	4.5 %	3,695.05	8.0 %	(537.49)	(3.0 %)
Q2 2016	2,780.55	10.6 %	3,923.66	11.0 %	(555.28)	(18.8 %)
Q3 2016	2,914.48	16.8 %	3,877.85	21.4 %	(541.44)	(28.9 %)
Q4 2016	2,921.23	17.5 %	3,812.32	6.1 %	(508.04)	7.4 %
2016	11,223.09	12.7 %	15,341.38	11.6 %	(2,142.24)	(9.4 %)
Q1 2017	2,885.74	12.1 %	3,853.09	4.3 %	(372.41)	30.7 %
Q2 2017	2,954.42	6.3 %	3,876.96	(1.2 %)	(405.29)	27.0 %
Q3 2017	3,032.11	4.0 %	3,976.36	2.5 %	(409.88)	24.3 %
Q4 2017	3,157.15	8.1 %	4,198.45	10.1 %	(360.00)	29.1 %
2017	12,029.42	7.2 %	15,904.85	3.7 %	(1,547.58)	27.8 %
Q1 2018	3,441.33	19.3 %	4,142.41	7.5 %	(450.43)	(21.0 %)
Q2 2018	3,551.95	20.2 %	4,288.07	10.6 %	(333.22)	17.8 %
Q3 2018	3,682.34	21.4 %	4,383.35	10.2 %	(417.26)	(1.8 %)
Q4 2018	3,811.37	20.7 %	4,505.69	7.3 %	(330.03)	8.3 %
2018	14,486.99	20.4 %	17,319.52	8.9 %	(1,530.95)	1.1 %
Q1 2019	3,943.96	14.6 %	4,638.94	12.0 %	(389.42)	13.5 %
Q2 2019	4,060.69	14.3 %	4,861.11	13.4 %	(385.63)	(15.7 %)
Q3 2019	4,163.61	13.1 %	4,981.23	13.6 %	(332.27)	20.4 %
Q4 2019	4,259.46	11.8 %	5,003.18	11.0 %	(664.95)	(101.5 %)
2019	16,427.72	13.4 %	19,484.46	12.5 %	(1,772.27)	(15.8 %)
Q1 2020	4,110.48	4.2 %	4,967.56	7.1 %	(692.81)	(77.9 %)
Q2 2020	3,967.69	(2.3 %)	4,807.76	(1.1 %)	(457.96)	(18.8 %)
Q3 2020	4,196.45	0.8 %	5,152.13	3.4 %	(464.94)	(39.9 %)
Q4 2020	4,638.39	8.9 %	5,793.81	15.8 %	(550.04)	17.3 %
2020	16,913.02	3.0 %	20,721.26	6.3 %	(2,165.74)	(22.2 %)
Q1 2021	4,770.55	16.1 %	5,947.58	19.7 %	(576.99)	16.7 %
Q2 2021	5,051.78	27.3 %	6,336.32	31.8 %	(583.97)	(27.5 %)
Q3 2021	5,214.76	24.3 %	6,577.68	27.7 %	(593.81)	(27.7 %)
Q4 2021	5,354.85	15.4 %	6,854.82	18.3 %	(590.32)	(7.3 %)
2021	20,391.94	20.6 %	25,716.40	24.1 %	(2,345.09)	(8.3 %)
Q1 2022	5,340.17	11.9 %	6,956.56	17.0 %	(578.31)	(0.2 %)

Period	Net Income from investments and financial activities	Change	Operating Income	Change	Debt Provisions	Change
2012	9,340.89	3.0 %	13,983.02	11.8 %	(2,319.17)	(41.0 %)
2013	9,649.07	3.3 %	13,845.04	(1.0 %)	(2,349.69)	(1.3 %)
2014	9,817.32	1.7 %	13,666.97	(1.3 %)	(2,312.18)	1.6 %
2015	9,958.94	1.4 %	13,745.78	0.6 %	(1,958.03)	15.3 %
2016	11,223.09	12.7 %	15,341.38	11.6 %	(2,142.24)	(9.4 %)
2017	12,029.42	7.2 %	15,904.85	3.7 %	(1,547.58)	27.8 %
2018	14,486.99	20.4 %	17,319.52	8.9 %	(1,530.95)	1.1 %
2019	16,427.72	13.4 %	19,484.46	12.5 %	(1,772.27)	(15.8 %)
2020	16,913.02	3.0 %	20,721.26	6.3 %	(2,165.74)	(22.2 %)
2021	20,391.94	20.6 %	25,716.40	24.1 %	(2,345.09)	(8.3 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	2,051.69	2.0 %	0.51	-	2,051.69	0.51
Q2 2013	2,122.72	1.4 %	0.53	-	2,122.72	0.53
Q3 2013	1,717.02	(8.1 %)	0.43	-	1,717.02	0.43
Q4 2013	1,546.56	(19.1 %)	0.39	-	1,546.56	0.39
2013	7,437.99	(5.7 %)	1.86	-	7,437.99	1.86
Q1 2014	1,705.80	(16.9 %)	0.43	-	1,705.80	0.43
Q2 2014	1,948.95	(8.2 %)	0.49	-	1,948.95	0.49
Q3 2014	1,661.61	(3.2 %)	0.42	-	1,661.61	0.42
Q4 2014	1,519.81	(1.7 %)	0.38	-	1,519.81	0.38
2014	6,836.17	(8.1 %)	1.71	-	6,836.17	1.71
Q1 2015	1,518.55	(11.0 %)	0.38	-	1,518.55	0.38
Q2 2015	1,941.37	(0.4 %)	0.49	-	1,941.37	0.49
Q3 2015	1,721.40	3.6 %	0.43	-	1,721.40	0.43
Q4 2015	1,948.77	28.2 %	0.49	-	1,948.77	0.49
2015	7,130.08	4.3 %	1.78	-	7,130.08	1.78
Q1 2016	2,017.27	32.8 %	0.50	-	2,017.27	0.50
Q2 2016	2,051.93	5.7 %	0.51	-	2,051.93	0.51
Q3 2016	2,009.49	16.7 %	0.50	-	2,009.49	0.50
Q4 2016	2,047.27	5.1 %	0.51	-	2,047.27	0.51
2016	8,125.96	14.0 %	2.03	-	8,125.96	2.03
Q1 2017	2,220.90	10.1 %	0.56	-	2,220.90	0.56
Q2 2017	2,181.65	6.3 %	0.55	-	2,181.65	0.55
Q3 2017	2,265.21	12.7 %	0.57	-	2,265.21	0.57
Q4 2017	2,452.97	19.8 %	0.61	-	2,452.97	0.61
2017	9,120.73	12.2 %	2.28	-	9,120.73	2.28
Q1 2018	2,306.28	3.8 %	0.58	-	2,306.28	0.58
Q2 2018	2,474.22	13.4 %	0.62	-	2,474.22	0.62
Q3 2018	2,515.98	11.1 %	0.63	-	2,515.98	0.63
Q4 2018	(3528.54)	(243.8 %)	(0.88)	(5405.27)	1,876.74	0.47
2018	3,767.95	(58.7 %)	0.94	(5405.27)	9,173.22	2.29
Q1 2019	2,567.99	11.3 %	0.64	-	2,567.99	0.64
Q2 2019	2,533.91	2.4 %	0.63	-	2,533.91	0.63
Q3 2019	2,738.82	8.9 %	0.68	-	2,738.82	0.68
Q4 2019	2,317.81	165.7 %	0.58	-	2,317.81	0.58
2019	10,158.53	169.6 %	2.54	-	10,158.53	2.54
Q1 2020	2,380.15	(7.3 %)	0.60	-	2,380.15	0.60
Q2 2020	2,436.10	(3.9 %)	0.61	-	2,436.10	0.61
Q3 2020	2,657.85	(3.0 %)	0.66	-	2,657.85	0.66
Q4 2020	3,121.45	34.7 %	0.78	-	3,121.45	0.78
2020	10,595.55	4.3 %	2.65	-	10,595.55	2.65
Q1 2021	3,335.49	40.1 %	0.83	-	3,335.49	0.83
Q2 2021	3,604.69	48.0 %	0.90	-	3,604.69	0.90
Q3 2021	3,793.75	42.7 %	0.95	-	3,793.75	0.95
Q4 2021	4,012.29	28.5 %	1.00	-	4,012.29	1.00
2021	14,746.21	39.2 %	3.69	-	14,746.21	3.69
Q1 2022	4,133.55	23.9 %	1.03	-	4,133.55	1.03

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	7,884.71	6.9 %	1.97	-	7,884.71	1.97
2013	7,437.99	(5.7 %)	1.86	-	7,437.99	1.86
2014	6,836.17	(8.1 %)	1.71	-	6,836.17	1.71
2015	7,130.08	4.3 %	1.78	-	7,130.08	1.78
2016	8,125.96	14.0 %	2.03	-	8,125.96	2.03
2017	9,120.73	12.2 %	2.28	-	9,120.73	2.28
2018	3,767.95	(58.7 %)	0.94	(5405.27)	9,173.22	2.29
2019	10,158.53	169.6 %	2.54	-	10,158.53	2.54
2020	10,595.55	4.3 %	2.65	-	10,595.55	2.65
2021	14,746.21	39.2 %	3.69	-	14,746.21	3.69

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Profit/Investment Income & Other Financing Operations
Q1 2013	3.11 %	23.22 %	80.97 %
Q2 2013	3.11 %	22.04 %	79.92 %
Q3 2013	3.00 %	21.79 %	77.81 %
Q4 2013	2.72 %	19.84 %	73.54 %
2013	2.72 %	19.84 %	73.54 %
Q1 2014	2.52 %	18.69 %	69.90 %
Q2 2014	2.43 %	17.70 %	67.67 %
Q3 2014	2.40 %	17.73 %	67.40 %
Q4 2014	2.33 %	17.01 %	66.94 %
2014	2.33 %	17.01 %	66.94 %
Q1 2015	2.19 %	16.15 %	64.97 %
Q2 2015	2.13 %	15.67 %	64.89 %
Q3 2015	2.15 %	15.69 %	64.99 %
Q4 2015	2.29 %	16.11 %	69.50 %
2015	2.29 %	16.11 %	69.50 %
Q1 2016	2.37 %	17.11 %	73.30 %
Q2 2016	2.35 %	16.62 %	72.26 %
Q3 2016	2.45 %	16.95 %	71.49 %
Q4 2016	2.48 %	16.49 %	69.15 %
2016	2.48 %	16.49 %	69.15 %
Q1 2017	2.52 %	16.92 %	68.98 %
Q2 2017	2.50 %	16.48 %	68.88 %
Q3 2017	2.61 %	16.90 %	70.37 %
Q4 2017	2.67 %	16.94 %	72.50 %
2017	2.67 %	16.94 %	72.50 %
Q1 2018	2.69 %	18.07 %	70.20 %
Q2 2018	2.74 %	17.86 %	69.40 %
Q3 2018	2.81 %	18.51 %	68.09 %
Q4 2018	1.07 %	7.24 %	25.13 %
2018	1.07 %	7.24 %	25.13 %
Q1 2019	1.13 %	7.95 %	25.96 %
Q2 2019	1.14 %	7.97 %	25.50 %
Q3 2019	1.19 %	8.56 %	26.12 %
Q4 2019	2.72 %	20.42 %	59.89 %
2019	2.72 %	20.42 %	59.89 %
Q1 2020	2.64 %	19.83 %	58.21 %
Q2 2020	2.51 %	19.41 %	57.98 %
Q3 2020	2.45 %	18.89 %	57.50 %
Q4 2020	2.48 %	19.39 %	60.97 %
2020	2.48 %	19.39 %	60.97 %
Q1 2021	2.56 %	21.23 %	64.03 %
Q2 2021	2.64 %	22.79 %	66.24 %
Q3 2021	2.74 %	23.38 %	67.76 %
Q4 2021	2.70 %	23.52 %	68.77 %
2021	2.70 %	23.52 %	68.77 %
Q1 2022	2.66 %	23.72 %	69.34 %

Period	Return On Average Assets	Return on Average Equity	Net Profit/Investment Income & Other Financing Operations
2012	3.23 %	22.54 %	81.40 %
2013	2.72 %	19.84 %	73.54 %
2014	2.33 %	17.01 %	66.94 %
2015	2.29 %	16.11 %	69.50 %
2016	2.48 %	16.49 %	69.15 %
2017	2.67 %	16.94 %	72.50 %
2018	1.07 %	7.24 %	25.13 %
2019	2.72 %	20.42 %	59.89 %
2020	2.48 %	19.39 %	60.97 %
2021	2.70 %	23.52 %	68.77 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Financing Investments	Change
Q1 2013	275.61	17.7 %	231.81	24.6 %	180.49	18.9 %
Q2 2013	273.28	14.7 %	227.42	22.3 %	184.89	16.9 %
Q3 2013	272.98	10.4 %	225.52	15.6 %	185.45	12.0 %
Q4 2013	279.87	4.7 %	231.59	4.6 %	186.81	8.6 %
Q1 2014	288.04	4.5 %	238.52	2.9 %	193.05	7.0 %
Q2 2014	295.15	8.0 %	245.42	7.9 %	200.93	8.7 %
Q3 2014	298.71	9.4 %	250.03	10.9 %	203.65	9.8 %
Q4 2014	307.71	9.9 %	256.08	10.6 %	205.94	10.2 %
Q1 2015	320.43	11.2 %	268.48	12.6 %	205.12	6.3 %
Q2 2015	327.07	10.8 %	269.42	9.8 %	210.62	4.8 %
Q3 2015	325.21	8.9 %	271.55	8.6 %	209.91	3.1 %
Q4 2015	315.62	2.6 %	257.82	0.7 %	210.22	2.1 %
Q1 2016	323.30	0.9 %	266.42	(0.8 %)	216.39	5.5 %
Q2 2016	331.38	1.3 %	272.65	1.2 %	224.52	6.6 %
Q3 2016	330.52	1.6 %	272.60	0.4 %	225.86	7.6 %
Q4 2016	339.71	7.6 %	272.59	5.7 %	224.99	7.0 %
Q1 2017	337.23	4.3 %	271.29	1.8 %	229.42	6.0 %
Q2 2017	345.60	4.3 %	285.39	4.7 %	232.80	3.7 %
Q3 2017	338.03	2.3 %	270.10	(0.9 %)	233.18	3.2 %
Q4 2017	343.12	1.0 %	273.06	0.2 %	233.54	3.8 %
Q1 2018	348.43	3.3 %	283.94	4.7 %	228.23	(0.5 %)
Q2 2018	347.59	0.6 %	280.39	(1.8 %)	226.54	(2.7 %)
Q3 2018	355.58	5.2 %	288.84	6.9 %	232.02	(0.5 %)
Q4 2018	364.03	6.1 %	293.91	7.6 %	231.76	(0.8 %)
Q1 2019	363.05	4.2 %	293.50	3.4 %	234.83	2.9 %
Q2 2019	369.20	6.2 %	300.56	7.2 %	238.50	5.3 %
Q3 2019	367.87	3.5 %	298.81	3.5 %	244.59	5.4 %
Q4 2019	384.09	5.5 %	312.41	6.3 %	249.68	7.7 %
Q1 2020	391.90	7.9 %	315.66	7.5 %	261.39	11.3 %
Q2 2020	417.68	13.1 %	334.66	11.3 %	274.93	15.3 %
Q3 2020	430.30	17.0 %	345.32	15.6 %	289.73	18.5 %
Q4 2020	468.82	22.1 %	382.63	22.5 %	315.71	26.4 %
Q1 2021	512.23	30.7 %	421.27	33.5 %	356.14	36.3 %
Q2 2021	546.14	30.8 %	447.51	33.7 %	390.30	42.0 %
Q3 2021	582.66	35.4 %	478.33	38.5 %	420.95	45.3 %
Q4 2021	623.64	33.0 %	512.07	33.8 %	452.83	43.4 %
Q1 2022	657.34	28.3 %	507.89	20.6 %	484.53	36.0 %

Period	Assets	Change	Customer Deposits	Change	Financing Investments	Change
3m 2013	275.61	17.7 %	231.81	24.6 %	180.49	18.9 %
6m 2013	273.28	14.7 %	227.42	22.3 %	184.89	16.9 %
9m 2013	272.98	10.4 %	225.52	15.6 %	185.45	12.0 %
12m 2013	279.87	4.7 %	231.59	4.6 %	186.81	8.6 %
3m 2014	288.04	4.5 %	238.52	2.9 %	193.05	7.0 %
6m 2014	295.15	8.0 %	245.42	7.9 %	200.93	8.7 %
9m 2014	298.71	9.4 %	250.03	10.9 %	203.65	9.8 %
12m 2014	307.71	9.9 %	256.08	10.6 %	205.94	10.2 %
3m 2015	320.43	11.2 %	268.48	12.6 %	205.12	6.3 %
6m 2015	327.07	10.8 %	269.42	9.8 %	210.62	4.8 %
9m 2015	325.21	8.9 %	271.55	8.6 %	209.91	3.1 %
12m 2015	315.62	2.6 %	257.82	0.7 %	210.22	2.1 %
3m 2016	323.30	0.9 %	266.42	(0.8 %)	216.39	5.5 %
6m 2016	331.38	1.3 %	272.65	1.2 %	224.52	6.6 %
9m 2016	330.52	1.6 %	272.60	0.4 %	225.86	7.6 %
12m 2016	339.71	7.6 %	272.59	5.7 %	224.99	7.0 %
3m 2017	337.23	4.3 %	271.29	1.8 %	229.42	6.0 %
6m 2017	345.60	4.3 %	285.39	4.7 %	232.80	3.7 %
9m 2017	338.03	2.3 %	270.10	(0.9 %)	233.18	3.2 %
12m 2017	343.12	1.0 %	273.06	0.2 %	233.54	3.8 %
3m 2018	348.43	3.3 %	283.94	4.7 %	228.23	(0.5 %)
6m 2018	347.59	0.6 %	280.39	(1.8 %)	226.54	(2.7 %)
9m 2018	355.58	5.2 %	288.84	6.9 %	232.02	(0.5 %)
12m 2018	364.03	6.1 %	293.91	7.6 %	231.76	(0.8 %)
3m 2019	363.05	4.2 %	293.50	3.4 %	234.83	2.9 %
6m 2019	369.20	6.2 %	300.56	7.2 %	238.50	5.3 %
9m 2019	367.87	3.5 %	298.81	3.5 %	244.59	5.4 %
12m 2019	384.09	5.5 %	312.41	6.3 %	249.68	7.7 %
3m 2020	391.90	7.9 %	315.66	7.5 %	261.39	11.3 %
6m 2020	417.68	13.1 %	334.66	11.3 %	274.93	15.3 %
9m 2020	430.30	17.0 %	345.32	15.6 %	289.73	18.5 %
12m 2020	468.82	22.1 %	382.63	22.5 %	315.71	26.4 %
3m 2021	512.23	30.7 %	421.27	33.5 %	356.14	36.3 %
6m 2021	546.14	30.8 %	447.51	33.7 %	390.30	42.0 %
9m 2021	582.66	35.4 %	478.33	38.5 %	420.95	45.3 %
12m 2021	623.64	33.0 %	512.07	33.8 %	452.83	43.4 %
3m 2022	657.34	28.3 %	507.89	20.6 %	484.53	36.0 %

Period	Assets	Change	Customer Deposits	Change	Financing Investments	Change
2012	267.38	21.1 %	221.34	24.5 %	171.94	22.5 %
2013	279.87	4.7 %	231.59	4.6 %	186.81	8.6 %
2014	307.71	9.9 %	256.08	10.6 %	205.94	10.2 %
2015	315.62	2.6 %	257.82	0.7 %	210.22	2.1 %
2016	339.71	7.6 %	272.59	5.7 %	224.99	7.0 %
2017	343.12	1.0 %	273.06	0.2 %	233.54	3.8 %
2018	364.03	6.1 %	293.91	7.6 %	231.76	(0.8 %)
2019	384.09	5.5 %	312.41	6.3 %	249.68	7.7 %
2020	468.82	22.1 %	382.63	22.5 %	315.71	26.4 %
2021	623.64	33.0 %	512.07	33.8 %	452.83	43.4 %

Ratios

Period	Customer Deposits Per Total Assets	Financing Investments/Customer Deposits	Financing Investments/Total Assets
Q1 2013	84.11 %	77.86 %	65.49 %
Q2 2013	83.22 %	81.30 %	67.66 %
Q3 2013	82.61 %	82.23 %	67.93 %
Q4 2013	82.75 %	80.67 %	66.75 %
Q1 2014	82.81 %	80.94 %	67.02 %
Q2 2014	83.15 %	81.87 %	68.07 %
Q3 2014	83.70 %	81.45 %	68.17 %
Q4 2014	83.22 %	80.42 %	66.93 %
Q1 2015	83.79 %	76.40 %	64.01 %
Q2 2015	82.38 %	78.17 %	64.40 %
Q3 2015	83.50 %	77.30 %	64.55 %
Q4 2015	81.69 %	81.54 %	66.60 %
Q1 2016	82.41 %	81.22 %	66.93 %
Q2 2016	82.28 %	82.35 %	67.75 %
Q3 2016	82.48 %	82.86 %	68.34 %
Q4 2016	80.24 %	82.54 %	66.23 %
Q1 2017	80.45 %	84.57 %	68.03 %
Q2 2017	82.58 %	81.57 %	67.36 %
Q3 2017	79.90 %	86.33 %	68.98 %
Q4 2017	79.58 %	85.53 %	68.06 %
Q1 2018	81.49 %	80.38 %	65.50 %
Q2 2018	80.67 %	80.80 %	65.18 %
Q3 2018	81.23 %	80.33 %	65.25 %
Q4 2018	80.74 %	78.85 %	63.66 %
Q1 2019	80.84 %	80.01 %	64.68 %
Q2 2019	81.41 %	79.35 %	64.60 %
Q3 2019	81.23 %	81.85 %	66.49 %
Q4 2019	81.34 %	79.92 %	65.01 %
Q1 2020	80.55 %	82.81 %	66.70 %
Q2 2020	80.12 %	82.15 %	65.82 %
Q3 2020	80.25 %	83.90 %	67.33 %
Q4 2020	81.61 %	82.51 %	67.34 %
Q1 2021	82.24 %	84.54 %	69.53 %
Q2 2021	81.94 %	87.22 %	71.46 %
Q3 2021	82.09 %	88.00 %	72.25 %
Q4 2021	82.11 %	88.43 %	72.61 %
Q1 2022	77.26 %	95.40 %	73.71 %

Period	Customer Deposits Per Total Assets	Financing Investments/Customer Deposits	Financing Investments/Total Assets
2012	82.78 %	77.68 %	64.31 %
2013	82.75 %	80.67 %	66.75 %
2014	83.22 %	80.42 %	66.93 %
2015	81.69 %	81.54 %	66.60 %
2016	80.24 %	82.54 %	66.23 %
2017	79.58 %	85.53 %	68.06 %
2018	80.74 %	78.85 %	63.66 %
2019	81.34 %	79.92 %	65.01 %
2020	81.61 %	82.51 %	67.34 %
2021	82.11 %	88.43 %	72.61 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2013	4,000.00	1.98	1.98	-	8.92
Q2 2013	4,000.00	1.99	1.99	-	9.38
Q3 2013	4,000.00	1.95	1.95	-	9.24
Q4 2013	4,000.00	1.86	1.86	-	9.62
Q1 2014	4,000.00	1.77	1.77	-	10.05
Q2 2014	4,000.00	1.73	1.73	-	10.17
Q3 2014	4,000.00	1.72	1.72	-	10.11
Q4 2014	4,000.00	1.71	1.71	-	10.47
Q1 2015	4,000.00	1.66	1.66	-	10.54
Q2 2015	4,000.00	1.66	1.66	-	11.02
Q3 2015	4,000.00	1.68	1.68	-	11.24
Q4 2015	4,000.00	1.78	1.78	-	11.66
Q1 2016	4,000.00	1.91	1.91	-	11.75
Q2 2016	4,000.00	1.93	1.93	-	12.26
Q3 2016	4,000.00	2.01	2.01	-	12.45
Q4 2016	4,000.00	2.03	2.03	-	12.99
Q1 2017	4,000.00	2.08	2.08	-	12.86
Q2 2017	4,000.00	2.11	2.11	-	13.40
Q3 2017	4,000.00	2.18	2.18	-	13.34
Q4 2017	4,000.00	2.28	2.28	-	13.94
Q1 2018	4,000.00	2.30	2.30	-	12.61
Q2 2018	4,000.00	2.37	2.37	-	13.20
Q3 2018	4,000.00	2.44	2.44	-	12.99
Q4 2018	4,000.00	0.94	2.29	-	12.08
Q1 2019	4,000.00	1.01	2.36	-	12.74
Q2 2019	4,000.00	1.02	2.37	-	12.45
Q3 2019	4,000.00	1.08	2.43	-	12.19
Q4 2019	4,000.00	2.54	2.54	-	12.80
Q1 2020	4,000.00	2.49	2.49	-	12.40
Q2 2020	4,000.00	2.47	2.47	-	12.98
Q3 2020	4,000.00	2.45	2.45	-	13.73
Q4 2020	4,000.00	2.65	2.65	-	14.53
Q1 2021	4,000.00	2.89	2.89	-	14.81
Q2 2021	4,000.00	3.18	3.18	-	14.92
Q3 2021	4,000.00	3.46	3.46	-	15.90
Q4 2021	4,000.00	3.69	3.69	-	16.82
Q1 2022	4,000.00	3.89	3.89	-	17.97

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2012	4,000.00	1.97	1.97	-	9.12
2013	4,000.00	1.86	1.86	-	9.62
2014	4,000.00	1.71	1.71	-	10.47
2015	4,000.00	1.78	1.78	-	11.66
2016	4,000.00	2.03	2.03	-	12.99
2017	4,000.00	2.28	2.28	-	13.94
2018	4,000.00	0.94	2.29	-	12.08
2019	4,000.00	2.54	2.54	-	12.80
2020	4,000.00	2.65	2.65	-	14.53
2021	4,000.00	3.69	3.69	-	16.82

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	12.45	12.45	2.77
Q2 2013	13.58	13.58	2.88
Q3 2013	14.86	14.86	3.14
Q4 2013	14.73	14.73	2.85
Q1 2014	15.82	15.82	2.79
Q2 2014	15.85	15.85	2.70
Q3 2014	16.89	16.89	2.87
Q4 2014	12.23	12.23	2.00
Q1 2015	14.05	14.05	2.22
Q2 2015	14.91	14.91	2.25
Q3 2015	13.34	13.34	1.99
Q4 2015	11.88	11.88	1.82
Q1 2016	11.06	11.06	1.79
Q2 2016	12.28	12.28	1.94
Q3 2016	10.45	10.45	1.69
Q4 2016	12.62	12.62	1.97
Q1 2017	12.46	12.46	2.02
Q2 2017	13.40	13.40	2.12
Q3 2017	12.30	12.30	2.01
Q4 2017	11.52	11.52	1.88
Q1 2018	13.33	13.33	2.43
Q2 2018	14.77	14.77	2.66
Q3 2018	14.66	14.66	2.75
Q4 2018	37.75	15.51	2.94
Q1 2019	43.73	18.68	3.46
Q2 2019	42.62	18.36	3.50
Q3 2019	36.70	16.29	3.25
Q4 2019	16.10	16.10	3.19
Q1 2020	13.49	13.49	2.71
Q2 2020	14.33	14.33	2.73
Q3 2020	16.78	16.78	2.99
Q4 2020	17.37	17.37	3.17
Q1 2021	21.39	21.39	4.17
Q2 2021	21.82	21.82	4.65
Q3 2021	22.12	22.12	4.82
Q4 2021	24.04	24.04	5.27
Q1 2022	25.83	25.83	5.59

Period	P/E	Adjusted P/E	Price/book
2012	12.37	12.37	2.67
2013	14.73	14.73	2.85
2014	12.23	12.23	2.00
2015	11.88	11.88	1.82
2016	12.62	12.62	1.97
2017	11.52	11.52	1.88
2018	37.75	15.51	2.94
2019	16.10	16.10	3.19
2020	17.37	17.37	3.17
2021	24.04	24.04	5.27

Business Segments (Million)

Compared With The

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage	Others
Q1 2013	2,442.26	453.00	333.00	213.00	-
Q2 2013	2,558.28	340.35	329.32	206.93	-
Q3 2013	2,574.82	513.26	246.41	93.12	-
Q4 2013	2,250.99	540.62	547.20	202.47	-
Q1 2014	2,473.81	455.85	345.28	223.00	-
Q2 2014	2,388.47	646.75	289.71	318.67	-
Q3 2014	2,651.16	501.66	381.88	(95.29)	-
Q4 2014	2,726.69	(47.16)	293.61	112.90	-
Q1 2015	2,589.61	373.42	306.52	152.70	-
Q2 2015	2,561.53	515.14	282.74	175.25	-
Q3 2015	2,417.29	521.88	146.55	109.35	-
Q4 2015	2,812.27	242.32	345.11	194.11	-
Q1 2016	2,687.48	387.37	447.63	172.57	-
Q2 2016	2,917.24	409.74	472.94	156.25	-
Q3 2016	2,823.92	605.71	322.21	126.01	-
Q4 2016	2,589.42	591.98	516.81	114.11	-
Q1 2017	2,932.19	689.54	109.86	121.49	-
Q2 2017	2,673.54	438.84	666.59	97.99	-
Q3 2017	2,787.15	602.89	482.72	103.61	-
Q4 2017	3,445.50	578.22	47.58	127.16	-
Q1 2018	2,770.66	580.10	653.28	138.37	-
Q2 2018	2,874.80	573.65	704.21	135.40	-
Q3 2018	2,968.91	575.21	722.65	116.59	-
Q4 2018	3,009.07	586.02	764.00	146.61	-
Q1 2019	3,164.28	638.35	733.97	102.34	-
Q2 2019	3,429.66	618.86	701.17	111.42	-
Q3 2019	3,500.25	627.28	755.75	97.96	-
Q4 2019	3,496.63	647.44	707.46	151.65	-
Q1 2020	3,470.22	631.90	750.56	114.88	-
Q2 2020	3,400.41	488.18	766.88	152.30	-
Q3 2020	2,996.99	740.72	1,155.71	258.72	-
Q4 2020	3,555.06	784.33	1,174.94	279.47	-
Q1 2021	3,500.80	744.34	1,408.57	293.87	-
Q2 2021	3,533.29	749.68	1,795.10	258.25	-
Q3 2021	3,393.98	860.61	2,108.46	214.63	-
Q4 2021	3,622.46	490.01	2,534.96	207.38	-
Q1 2022	3,240.62	909.28	2,546.87	259.81	-

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage	Others
2012	9,556.62	1,925.78	1,250.44	1,250.18	-
2013	9,826.35	1,847.22	1,455.94	715.53	-
2014	10,240.13	1,557.09	1,310.47	559.28	-
2015	10,380.70	1,652.75	1,080.91	631.41	-
2016	11,018.06	1,994.79	1,759.59	568.95	-
2017	11,838.38	2,309.49	1,306.74	450.25	-
2018	11,623.44	2,314.98	2,844.13	536.97	-
2019	13,590.82	2,531.92	2,898.35	463.38	-
2020	13,361.37	2,614.69	3,939.83	805.37	-
2021	14,050.54	2,844.64	7,847.08	974.14	-

Analysts Estimates (Million)

Item	Q1 2022 (e)	Q1 2022 (a)	Change‬
Average	4,062.03	4,133.55	1.76 %

Estimates vs Actual (Million)

Item	Q1 2022 (e)	Q1 2022 (a)	Change
AlJazira Capital	4,162.20	4,133.55	(0.7) %
Sico	4,092.00	4,133.55	1.0 %
JP Morgan	4,062.00	4,133.55	1.8 %
Riyad Capital	4,238.00	4,133.55	(2.5) %
OSOOL AND BAKHEET	4,274.10	4,133.55	(3.3) %
SNB Capital	3,989.00	4,133.55	3.6 %
Hermes	3,987.00	4,133.55	3.7 %
Arqaam Capital	3,937.00	4,133.55	5.0 %
U-Capital	3,817.00	4,133.55	8.3 %

Financial Ratios

	Current
Market Cap (M)	389,200.00
Shares Outstanding ((M))	4,000.00
EPS ( Riyal) (TTM)	4.59
EPS Diluted ( Riyal) (TTM)	4.37
Book Value (BV) ( Riyal)	23.73
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	21.18
P/E (TTM)	21.18
Price/book	4.10
Return on Average Assets (%) (TTM)	2.2
Return on Average Equity (%) (TTM)	20.3

Al Rajhi Bank (ALRAJHI)

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Al Rajhi Bank’s Q1 2022 net profit jumps 24% to SAR 4.134 bln

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Al Rajhi Bank’s Q1 2022 net profit jumps 24% to SAR 4.134 bln

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Current Quarter Comparison (M)

Balance Sheet (B)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Balance Sheet (B)

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Ratios

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

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Business Segments (Million) Q1 2022

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Al Rajhi Bank (ALRAJHI)

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