Shares of Al Rajhi Bank hit 15-year high

Al Rajhi Bank branch

Shares of Al Rajhi Bank rose 5% to close today, March 9, at SAR 97; their highest level since July 2006.

The stock recorded a trading volume of 9.5 million shares.

Accordingly, the stock gained nearly 90% since March 2020.

The bank started its operation in 1957, and later the different individual entities carrying Al Rajhi name were merged in 1978 under the umbrella of Al Rajhi Trading and Exchange Co. The firm became a joint stock company in 1988.

The bank opened its first branch for men at Ad Dirah, Riyadh in 1957, and the first branch for women at Al-Shemaysi in 1979.

The lender engages in a full range of Shariah-compliant banking and investment operations for own or third-party purposes locally and overseas.

The stock was listed on Tadawul on Dec. 1, 1988.

The following table shows the most important financial indicators of the bank:

The bank increased its capital six times through bonus share distribution to reach SAR 25 billion, according to data available on Tadawul website.

The General Organization for Social Insurance (GOSI) is the bank's major shareholder with a 5.86% stake.