Friday, 03 December 2021 12:25 GMT

Saudi Arabia: Al Rajihi Bank’s share hike more than TASI race


(MENAFN) Normally, when the Saudi stock market index witnesses a race, the majority of stakes receive a rise in worth. Nevertheless, the situation differs for Al Rajhi Bank.

On Sunday, Oct. 10 Al Rajhi Bank’s shares reached their greatest level starting from April 2006 at USD36.05. Currently, it is better than all other Gulf Cooperation Council Islamic or Shariah-compliant banks.

Mohammed Al-Suwayed, CEO of Razeen Capital said to Arab News, "Al Rajhi Bank has been showing significant earnings growth (double digit) despite the negative impact of economic lockdown last year, and many analysts still see the double digit growth continuing this year which explains the rise of the stock price ahead of the third quarter earnings announcement.”  


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.