Al-Rajhi Bank Profits hike to SR 1,732 Million In 1St Quarter

Riyadh, April 11, SPA -- Al-Rajhi Bank has announced a net profit of
SR 1,732 Million for the first quarter of this year (2009), compared
to SR1, 602 million for the same quarter of the previous year, a rise
of 8.1 percent, and compared to SR1424 million for the fourth quarter
of the year 2008, an increase of 21.6 percent.


The Managing Director and Chief Executive Officer of Al-Rajhi
Bank Abdullah bin Suleiman Al-Rajhi attributed the hike in the
profits to diversification of the portfolio of finance and
investment, which led to the increase in revenues by 12.5 percent for
the first quarter.


He pointed out that the total income of operations during
the first quarter amounted to SR 2, 740 million.