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 operating income by 6.3%. Moreover, total operating expenses were up by 9.2% and impairment charge for financing grew by 22.2%, according to a bourse statement on Wednesday.

The bank’s assets stood at SAR 468.83 billion in 2020, a yearly increase of 22.1%.