Abdullah Al Rajhi: alrajhi bank's profits increased to SAR 5,906 million in the first quarter of 2025, while total assets exceeded SAR 1 trillion

Mr. Abdullah bin Sulaiman Al Rajhi, Chairman of alrajhi bank

Mr. Abdullah bin Sulaiman Al Rajhi, Chairman of alrajhi bank, announced that the bank achieved a net profit of SAR 5,906 million for the first quarter 2025, a growth of 34% compared to SAR 4,405 million in the first quarter last year 2024. Total operating income reached 9,200 million, a growth of 27% compared to last year, as a result of the following; growth in net financing and investment income, an increase in banking services fees income, reflecting the success of the "Harmonize the group" strategy by continuing to support the group's ecosystem, towards obtaining sustainable growth and financial objectives.

Al Rajhi explained that the bank's financial results for the first quarter of 2025 showed that the shareholders' equity increased to reach SAR 134 billion compared to SAR 108 billion in the first quarter last year, recording an increase of 24%. Total assets also increased to SAR 1,023 billion, an increase of approximately 22%, marking an extraordinary achievement for the bank as it has exceeded the trillion-riyal mark, demonstrating the bank's outstanding performance at all levels, supported by its strategic objectives and exceptional teamwork. This is supported by a 19% growth in the financing portfolio and a 25% growth in the investment portfolio, compared to the same quarter 2024. Meanwhile, customer deposits increased to reach SAR 629 billion. The bank also achieved a return on assets of 2.4% and a 23.1% return on shareholders' equity, while earnings per share stood at 1.41 Saudi riyals at the end of the first quarter of 2025. Al Rajhi confirmed that the growth achieved by the bank in the financing portfolio witnessed a high coverage of non-performing loans at approximately 153%.

The Chairman of the Board of Directors also highlighted on the Bank's success in issuing USD 1.5 billion sustainable additional tier 1 sukuks denominated in US dollars, compliant with Islamic Sharia law, during the first quarter of 2025. This sukuk builds on the success of the bank’s previous international issuances in 2023 and 2024. This issuance received strong demand from regional and international investors, with coverage exceeding 200%, further enhancing the bank's position in global markets.

Al Rajhi considered the bank's retention of its position as the most valuable bank in the Middle East and North Africa for the third consecutive year, according to Forbes magazine's list, as evidence of the bank's continued growth across all aspects, with its market capitalization reaching more than SAR 400 billion.

In terms of its community role, alrajhi bank has contributed to the employment of 220 qualified employees through the Empowerment Program launched by Human Resources and Social Development. The program aims to qualify and empower social security beneficiaries who are eligible for employment and capable of integrating into the labor market.

The bank also launched the "Your impact matters" campaign to encourage customers to donate through the "Quick Donation" service to support national platforms such as the Good Housing Platform, Ihsan, and Forijat. More than SAR 600 million were transferred since the beginning of 2025, facilitating donations to charitable organizations and other community initiatives. Additionally, more than 200,000 customers donated a total of more than 300 million mokafaa reward points.

Al Rajhi pointed out that alrajhi bank Orphan Education Program continues for the fourth consecutive year, supporting more than 200 male and female students in their educational journey. He also noted that the national community initiative to perform 91 kidney transplants for kidney failure patients, at a cost of 18 million riyals, for cases referred from the Health Endowment Fund's Shifaa Platform. He expressed that the program has contributed to alleviating the suffering of patients in need.

Mr. Abdullah Al Rajhi added that alrajhi bank's Cardiac Catheterization Center at Al Rass General Hospital has performed more than 150 cardiac catheterizations. Al Rajhi stated that alrajhi bank’s support for the health sector is ongoing through the support of the blood bank, as King Faisal Specialist Hospital launched a blood donation initiative, in which the bank contributed by providing mobile blood vehicles, which visited more than 50 locations between Riyadh and Medina, with more than 6,000 male and female donors. The bank also cooperated with the Diriyah Association to launch a campaign to donate clothes, in which more than 480 employees contributed to this campaign.

Abdullah bin Sulaiman Al Rajhi concluded his statement by emphasizing that the bank will continue to perform its pioneering role and contribute effectively to achieve the goals of "Saudi Vision 2030" as an integral part of the nation's economic process. "We at alrajhi bank are committed to continuously improve the customer experience so that alrajhi bank becomes their first choice." The Chairman of alrajhi bank's Board of Directors extended his thanks and appreciation to the bank's employees for their great efforts during the first quarter, noting that continuing the great efforts will maintain the bank’s leadership locally and internationally.