Al Rajhi Bank posts 21% profit surge to $2.2bn for H1

RIYADH: Saudi Arabia’s Al Rajhi Bank’s net profit hit SR8.4 billion ($2.2 billion) in the first half of 2022, bolstered by a 15 percent jump in operating income.

This represents a 21 percent surge from SR6.9 billion in the same period last year, according to a bourse filing.

The increase in operating income was fueled by higher financing and investment income, fees from banking services, and exchange income, the bank noted.