Al Rajhi Bank (1120.B)

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News

30 November 2020 02:09 PM Saudi banking sector performs well in Q3 despite pandemic slowdown

Riyadh – Mubasher: Saudi Arabia's banking sector has fared well during the third quarter (Q3) of the year despite the ongoing pandemic-related slowdown, according to a recent report by Aljazira Capital. The banking sector continues to face …

Stock Evaluations

25 November 2020 02:49 PM Al Rajhi Bank names new chairman, vice chairman

Riyadh – Mubasher: Al Rajhi Bank’s elected Board of Directors approved appointing Abdullah bin Sulaiman Al Rajhi as the Chairman of the board for the new three-year term that started on 14 November 2020. The board also named Ibrahim bin Mohammed …

Board of Directors

19 November 2020 01:44 PM Saudi banks’ assets rise 14.1% in Q3

Riyadh – Mubasher: Assets of Saudi banks listed on the Saudi Stock Exchange (Tadawul) grew by 14.1% on a year-on-year (YoY) basis in the third quarter (Q3) of 2020, equivalent to SAR 331.615 billion ($88.43 billion).  Assets of 11 Tadawul-listed …

Banking and Finance

12 November 2020 02:57 PM Profits of Saudi companies fall to SAR 168bn in 9M

Riyadh – Mubasher: Profits of companies listed within Tadawul’s main index plunged by 47.38% yearly, equivalent to SAR 151.2 billion, during the first nine months of the year. Net earnings of 172 listed companies amounted to SAR 167.95 billion in …

Financial Results

8 November 2020 11:14 AM Al Rajhi Bank calls off merger talks with MIDF

Riyadh – Mubasher: Al Rajhi Bank said it ended and discontinued the merger discussions between its fully-owned subsidiary, Al Rajhi Banking and Investment Corporation (Malaysia) Berhad, and Malaysian Industrial Development Finance Bhd (MIDF). The …

Mergers and Acquisitions

2 November 2020 02:38 PM NCB leads six companies to account for 74% of third-quarter profits

Riyadh – Mubasher: A total of 72 Saudi companies have announced their third-quarter (Q3) financial results so far out of a total of 174 firms. Consolidated profits of those 72 firms amounted to SAR 17.8 billion in Q3-20, a decline of 3.7% when …

Financial Results

25 October 2020 09:00 AM Al Rajhi Bank profits down 3% in Q3

Riyadh – Mubasher: Al Rajhi Bank achieved SAR 2.658 billion worth of profits in the third quarter (Q3) of 2020, down by around 3% when compared to SAR 2.7 billion in the year-ago quarter. The drop in profits was ascribed to a rise in total …

Financial Results

19 October 2020 00:15 PM Saudi Aramco ranked 1st regionally in Forbes "World's Best Employers" list; 26th globally

Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has secured the first spot regionally and the 26th spot globally on Forbes’ fourth-annual list of the World’s Best Employers for 2020. Forbes said it partnered with market research …

Ratings

29 September 2020 08:30 AM Zain KSA signs deal to reschedule SAR 3.85bn Murabaha facility

Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) signed an agreement to reschedule its existing five-year syndicated Murabaha facility valued at SAR 3.85 billion maturing on 30 September 2020 (originally SAR 5.9 billion, …

Companies Investments

16 September 2020 03:44 PM Saudi German Hospital secures SAR 305m loan from Al Rajhi Bank

Riyadh – Mubasher: The Middle East Healthcare Company (Saudi German Hospital) on Wednesday received Sharia-compliant credit facilities worth SAR 305 million from Al Rajhi Bank. A total of SAR 120 million of the financing is revolving loans that …

Companies Investments

9 September 2020 08:43 AM Alkhabeer REIT Fund receives additional credit facilities from Al Rajhi Bank

Riyadh – Mubasher: Alkhabeer Capital, manager of Alkhabeer REIT Fund, signed a financing agreement with Al Rajhi Bank to receive additional Sharia-compliant credit facilities, taking the total loan value up to SAR 1 billion. The loan is secured by …

Banking and Finance

27 August 2020 09:18 AM SEC secures SAR 9bn Murabaha loan from local lenders

Riyadh – Mubasher: Saudi Electricity Company (SEC) on 26 August signed a syndicated Murabaha facility agreement for SAR 9 billion to finance the company’s general purposes, including capital expenditures. The deal was signed with the National …

Banking and Finance

6 August 2020 02:30 PM Aljazira Capital raises Al Rajhi Bank’s TP to SAR 57.80/shr

Riyadh – Mubasher: AlJazira Capital raised its target price (TP) for Al Rajhi Bank’s stock to SAR 57.80 from SAR 51.90 and maintained its “neutral” rating on the stock. “Even though the impact of COVID-19 has not entirely played out, the easing of …

Stock Evaluations

12 July 2020 09:28 AM Advanced Petrochemical signs SAR 1.5bn loan deal with three banks

Riyadh – Mubasher: Advanced Petrochemical Company has entered into a sharia-compliant Murabaha credit facility agreement on 9 July with Riyadh Bank, Samba Financial Group, and Al Rajhi Bank. The loan is valued at SAR 1.5 billion, however, …

Banking and Finance

13 May 2020 08:46 AM Expenses lower Al Rajhi quarterly profits by 7%

Riyadh – Mubasher: Al Rajhi Bank registered a 6.8% decline in net profit, as shown by the company’s interim financial results for the three-month period ending on 31 March 2020. During the first quarter (Q1) of 2020, the bank’s net profit after …

Financial Results

5 May 2020 09:36 AM SAICO, Al Rajhi renew insurance contract

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) signed a contract on 4 May 2020 with Al Rajhi Bank. The deal involves renewing the vehicle insurance coverage sold by the bank through its leasing programme, the company said …

Companies Investments

11 February 2020 09:48 AM Al Rajhi profits grow 170% in 2019

Riyadh – Mubasher: Al Rajhi Bank achieved a 169.6% surge in net profit last year to SAR 10.16 billion, from SAR 3.78 billion in 2018, as shown by its annual financial results for 2019. The rise in profits was attributed to total operating income …

Financial Results

9 February 2020 10:02 AM Al Rajhi REIT to distribute SAR 34m cash dividends

Riyadh – Mubasher: Al Rajhi Capital announced the distribution of SAR 33.99 million in cash dividend to the unitholders of Al Rajhi REIT Fund for the second half (H2) of last year. Dividends per unit will be SAR 0.21, representing 2.1% of the …

Cash Dividends

3 February 2020 09:29 AM Al Rajhi Bank plans 15% dividends for H2-19

Riyadh – Mubasher: Al Rajhi Bank announced that its Board of Directors (BOD) has recommended the distribution of SAR 3.75 billion in cash dividends to shareholders for the second half (H2) of 2019. Dividends will be distributed at SAR 1.5 per …

Board of Directors

19 January 2020 03:53 PM Saudi Marketing renews finance deal with Al Rajhi

Riyadh – Mubasher: Saudi Marketing Company (Farm Superstores) announced renewing a Sharia-compliant credit facility agreement with Al Rajhi Bank. The SAR 200 million finance deal has been extended until the end of November 2020, according to the …

Companies Investments

9 December 2019 11:38 AM Leading Saudi banks to maintain strong profitability – Moody’s

Riyadh – Mubasher: The three largest banks in Saudi Arabia, namely: National Commercial Bank (NCB), Al Rajhi Bank, and Saudi British Bank (SABB), are expected to maintain strong profitability and efficient cost structures, according to a report by …

Banking and Finance

5 December 2019 04:14 PM Al Rajhi Capital discloses details on REIT IPO

Riyadh – Mubasher: Al Rajhi Capital announced that the subscription period for its real estate investment trust (Al Rajhi REIT) total asset value increase offering will begin on 12 December, until 18 December 2019. The initial public offering …

Initial Public Offerings

27 November 2019 01:07 PM Saudi banks maintain strong growth signs – Report

Riyadh – Mubasher: The Saudi banking sector continues its move forward with steady deposit and loan growth, according to a recent report by Al Jazira Capital. Mortgage loans growth has exceeded expectation in recent years, showing a growth of 41 …

Sector Reports

21 November 2019 11:24 AM Al Rajhi Capital maintains Alhokair TP at SAR 22/shr

Riyadh – Mubasher: Al Rajhi Capital Research has revised their estimates for Fawaz Abdulaziz Alhokair and maintained their “neutral” recommendation on the stock with a target price (TP) of SAR 22 per share, according to a research note on …

Stock Evaluations

5 November 2019 09:03 AM Al Rajhi Bank appoints new CEO

Riyadh - Mubasher: Al Rajhi Banking and Investment Corporation (Al Rajhi Bank) has announced the official appointment of Walid bin Abdullah Al-Moqbel as its new CEO. The appointment, which will come into effect starting from the beginning of …

Board of Directors