Earnings Report /
Saudi Arabia

Al Rajhi Bank: Q2 21 review – Strong loan book growth, a key highlight

  • Revenues increased by 31.8% yoy (+6.5% qoq) to SAR6.34bn and was in-line with our estimate.

  • NIMs marginally declined by c10bps yoy to 3.8% and were marginally lower than our estimates of 3.9%.

  • Operating expenses increased by 5.9% yoy (+4.7% qoq) to SAR1.73bn, but was lower than our estimates of SAR1.80bn.

SNB Capital
5 August 2021
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