Riyadh –  Al Rajhi Bank generated SAR 4.13 billion in net profit during the first quarter (Q1) of 2022, a 23.95% year-on-year (YoY) hike from SAR 3.33 million.

The earnings per share (EPS) stood at SAR 1.65 in Q1-22, higher than SAR 1.33 in Q1-21, according to the interim financials on Wednesday.

During the January-March 2022 period, the clients' deposits surged by 20.56% to SAR 507.89 billion from SAR 421.26 billion in the same period a year earlier.

Meanwhile, the bank's assets widened by 28.38% to SAR 657.62 billion in the first three months (3M) of 2022, versus SAR 512.23 billion in Q1-21.

On a quarterly basis, the net profits in Q1-22 increased by 3.04% from SAR 4.01 million in Q4-21.

Last year, the net profits of the Saudi lender soared by 39.16% to SAR 14.74 billion, compared to SAR 10.59 billion in 2020.

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).