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Al Rajhi Bank shares advance on FY earnings report
- Saudi Arabia: Thursday, January 17 - 2013 at 07:07
The Saudi Stock Exchange's lead index Tasi ended a three-day losing streak, closing 0.25% higher at 7,036.33 points. Al Rajhi Bank gained 1.83% to finish the Saudi trading week at SR69.50. The largest Islamic bank in the GCC said Wednesday whilst its fourth quarter net profit improved insignificantly compared to Q4 2011, the full year net income surged 7% year-on-year, amounting to SR2.421bn. Main drivers were a higher net profit of financing and investments (up 5%) and a rise in customer deposits (24% higher).
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Gérard Al-Fil, Financial JournalistThursday, January 17 - 2013 at 07:07 UAE local time (GMT+4)
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