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Islamic Finance Briefing - Categorized | Banking, Performance more

Al Rajhi Bank achieves US$934 mln in profits during 1st half of this year

Posted on 27 July 2009

From Menareport.com: Al Rajhi Bank CEO, Mr. Abdullah Sulaiman Al Rajhi announced that the Bank posted a net profit of SR 3,503 million (US$934 million), compared to SR 3,344 million during the same period last year, representing a 5% increase.
This growth is attributed to the increase in customer deposits and the diversification of the Bank’s financing and investment strategy. Al Rajhi explained that the Bank is continuing with its conservative strategy by increasing its financial provisions by 55% compared to the same period last year…………Full Article: Source

 
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