The Al Rajhi Banking and Investment Corporation reported a 299 million Saudi riyal ($79.6 million) net operating income in the first quarter of 2002 compared with SR 440 million ($117.3 million) in the corresponding period in the previous year, reported Al-Hayat. These figures translate into a 32 percent profit drop. Owner’s equity reached seven billion riyals ($1.9 billion).
Al Rajhi is one of the largest joint stock companies in the Kingdom, with a paid up capital of SR 2.3 billion. With its head office is located in Riyadh, the corporation has a network of 365 branches distributed throughout the Kingdom, 457 ATM machines and 2283 points of service (POS) installed with merchants all over the Kingdom. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
