Al-Rajhi’s Profit Soars 82 Percent

RIYADH, 10 October 2005 — Saudi Arabia’s largest listed bank, Al-Rajhi Banking and Investment Corp, said yesterday nine-month net profit rose 82 percent compared to the same period last year to SR3.89 billion ($1.04 billion). Operating income hit SR5.7 billion, profits per share reached SR43.26 and assets stood at SR88.6 billion, the bank said in a statement. The statement gave no comparative figures for the same period in 2004, but last October the bank reported nine-month operating income of SR3.7 billion and assets stood at SR73 billion.