Al Rajhi Bank (1120)

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News

25 January 2022 10:22 AM Al Rajhi REIT Fund increases facilities limit from Al Rajhi Bank

Riyadh – Mubasher: Al Rajhi REIT Fund has completed the increase of the limit of the shariah-compliant facilities granted by Al Rajhi Bank to SAR 600 million. The seven-year facility has raised the total size of the facilities granted to the fund …

Banking and Finance

17 January 2022 03:24 PM Al Rajhi Bank completes SAR 6.5bn Sukuk issuance

Riyadh – Mubasher:  Al Rajhi Bank has completed the issuance of its Saudi riyal-denominated Tier 1 Sukuk at a value of SAR 6.5 billion. The settlement issuance was set on 23 January 2021, according to a bourse filing on Monday. The number of Sukuk …

Banking and Finance

11 January 2022 09:56 AM Alhasoob obtains SAR 7.5m Sharia-compliant financing

Riyadh – Mubasher: Alhasoob Co. has been granted short-term Sharia-compliant financing worth SAR 7.5 million from Al Rajhi Bank. The one-year financing will support the company to fulfill its strategic expansion plan to meet future needs, …

Banking and Finance

17 November 2021 01:31 PM Al Rajhi Takaful signs bancassurance deal with Al Rajhi Bank

Riyadh – Mubasher: Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has penned a bancassurance contract Al Rajhi Bank. Al Rajhi Takaful has been awarded the agreement on 16 November, which will be effective for 12 months, according to …

Banking and Finance

24 October 2021 05:45 PM Dallah Healthcare secures long-term Murabaha facility from Al Rajhi Bank

Riyadh – Mubasher: Dallah Healthcare Company has obtained a long-term Murabaha loan worth SAR 900 million from Al Rajhi Bank. The financing facility holds a 10-year duration period from the date of receiving the Sharia-compliant funding on 24 …

Companies Investments

24 October 2021 11:30 AM Al Rajhi Bank records nearly SAR 4bn profits in Q3

Riyadh – Mubasher: Al Rajhi Bank achieved a 42.7% increase in net profits to SAR 3.79 billion during the third quarter (Q3) of 2021 from SAR 2.65 billion in Q3-20, according to the initial financial results on Sunday. On a quarterly basis, the …

Financial Results

31 August 2021 10:59 AM SAICO to provide Al Rajhi with insurance coverage

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) will provide insurance coverage to Al Rajhi Bank for one year starting 1 September 2021. The annual premiums for this contract are expected to exceed 5% of SAICO's revenues, …

Banking and Finance

3 August 2021 10:21 AM Al Rajhi Takaful inks mortgage insurance contract with Al Rajhi Bank

Riyadh – Mubasher: Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has signed a contract with Al Rajhi Bank to provide mortgage insurance coverage for the bank’s clients. The insurance company was awarded the contract on 2 August …

Companies Investments

1 August 2021 00:44 PM Al Rajhi Bank records SAR 7bn net profits in H1-21

Riyadh – Mubasher: Al Rajhi Bank posted an increase of 44% in net profits after Zakat and tax to SAR 6.94 billion during the first half (H1) of 2021 from SAR 4.81 billion in H1-20. Earnings per share stood at SAR 2.78 in H1-21, compared to SAR …

Financial Results

28 July 2021 01:22 PM Alkhabeer Capital enters hedging facility agreement with Al Rajhi Bank

Riyadh – Mubasher: Alkhabeer Capital has signed a profit rate swap hedging agreement with Al Rajhi Bank to fix the profit margin of facilities used in the first additional offering for a value of SAR 397.5 million at a fixed rate of 4.44%. The …

Banking and Finance

12 July 2021 05:29 PM Saudi Paper to reschedule SAR 6.75m financing via deal with Al Rajhi

Riyadh – Mubasher: Saudi Paper Manufacturing Company has signed a credit facility agreement with Al Rajhi Bank to reschedule existing financing worth SAR 67.52 million, according to a bourse filing on Monday. The company has rescheduled the …

Banking and Finance

30 June 2021 10:47 AM Al Rajhi Bank's board approves 14% dividends for H1-21

Riyadh – Mubasher: The board of Al Rajhi Bank has approved to distribute cash dividends, equivalent to 14% of the company's share nominal value, for the first half (H1) of 2021. The cash dividend distribution stands at SAR 1.4 per share after …

Banking and Finance

20 June 2021 02:37 PM Fitch upgrades Al Rajhi Bank's outlook

Riyadh – Mubasher: Fitch has revised Al Rajhi Banking and Investment Corporation’s (Al Rajhi Bank) outlook to ‘Stable’, upgraded from ‘Negative’, according to a press release. Fitch affirmed the bank's 'A-' Long-Term Issuer Default Ratings (IDR) …

Ratings

8 April 2021 02:35 PM Listed firms among top 10 most influential brands in Saudi Arabia

Riyadh – Mubasher: Saudi Telecom Company (stc), Almarai, and Al Rajhi Bank were chosen as the top three most influential local brands in Saudi Arabia during 2020, according to a recent survey by Ipsos. Jarir Bookstore and Etihad Etisalat Company …

Ratings

30 March 2021 00:35 PM Al Rajhi Bank OGM approves SAR 1/shr dividends

Riyadh – Mubasher: Shareholders of Al Rajhi Bank have approved the Board of Directors’ recommendation to distribute SAR 2.5 billion in cash dividends for 2020, during the bank’s ordinary general meeting (OGM). Dividends will be distributed at SAR …

Cash Dividends

7 March 2021 01:50 PM Saudi banks’ assets surge to SAR 2.77trn in 2020

Riyadh – Mubasher: Assets of Saudi banks listed on the Saudi Stock Exchange (Tadawul) increased by 13.1% on an annual basis in 2020 or SAR 321.82 billion ($85.82 billion). Total assets of 11 Tadawul-listed lenders reached SAR 2.77 trillion …

Financial Results

1 March 2021 11:25 AM Al Rajhi Bank plans 10% dividends for 2020

Riyadh – Mubasher: Al Rajhi Bank’s board of directors recommended distributing SAR 2.5 billion in cash dividends to shareholders for 2020. The proposed amount represents 10% of the share’s nominal value or SAR 1 per share, according to a stock …

Cash Dividends

25 February 2021 01:11 PM Profits of Saudi banks down 23% in 2020

Riyadh – Mubasher: Net profits of banks operating in Saudi Arabia tumbled by 22.9% or SAR 10.3 billion on a year-on-year (YoY) basis in 2020. Saudi banks listed on Tadawul logged SAR 34.73 billion in net earnings during the past year, compared to …

Financial Results

10 February 2021 04:43 PM Halwani Bros secures SAR 140m loan from Al Rajhi Bank

Riyadh – Mubasher: Halwani Bros. Company announced signing Sharia-compliant credit facility agreements with Al Rajhi Bank valued at SAR 140 million. The credit facilities are a medium-term loan of SAR 65 million, maturing in three years, and a …

Banking and Finance

3 February 2021 11:44 AM Al Rajhi Bank reports 4.3% higher earnings in 2020

Riyadh – Mubasher: Al Rajhi Bank reported net profits of SAR 10.6 billion for fiscal year (FY) ended on 31 December 2020, up by 4.3% when compared to SAR 10.2 billion a year earlier. The higher annual profits were backed by an increase in total …

Financial Results

3 January 2021 03:25 PM Saudi ADF teams up with Al Rajhi Bank, Samba

Riyadh – Mubasher: Saudi Arabia’s Agricultural Development Fund (ADF) on Sunday signed two cooperation agreements with Al Rajhi Bank and Samba Financial Group as part of the financing programme in partnership with commercial banks. The agreements …

Macroeconomics

29 December 2020 04:27 PM Mulkia Investment pens financing deal with Al Rajhi Bank

Riyadh – Mubasher: Mulkia Investment Company, manager of Mulkia Gulf Real Estate REIT Fund, has signed a Sharia-compliant financing agreement with Al Rajhi Bank to reduce financing costs and extend the loan term for the benefit of the unitholders. …

Companies Investments

21 December 2020 09:37 AM Al Rajhi REIT secures SAR 254.5m loan from Al Rajhi Bank

Riyadh – Mubasher: Al Rajhi Capital, fund manager of Al Rajhi REIT, said the fund had signed a SAR 254.5 million Sharia-compliant facility agreement with Al Rajhi Bank. The five-year loan will refinance the existing loan tranche that is maturing …

Companies Investments

3 December 2020 08:57 AM MIS secures SAR 500m loan from Al Rajhi Bank

Riyadh – Mubasher: Al Moammar Information Systems (MIS) Company has signed a Sharia-compliant credit facility agreement worth SAR 500 million with Al Rajhi Bank. The financing term starts on 3 December 2020 and ends on 31 December 2021, according …

Banking and Finance

30 November 2020 03:09 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 …

Banking and Finance