Shares of Al Rajhi Bank hit fresh all-time high

Logo of Al Rajhi Bank

Al Rajhi Bank stock, the heaviest weight on the market index, rose during Tuesday's, April 12, trading to its highest price since debut at SAR 172.

The stock is currently up more than 3%, with about 3.6 million shares traded so far.

Al Rajhi Bank commenced its operations in 1957. In 1978, all of the retail institutions under Al Rajhi brand were merged into one entity, Al Rajhi Trading and Exchange Corp. The bank was established as a Saudi shareholding company in 1988.

The bank's main activities are represented in carrying out banking and investment activities that are Sharia compliant.

The bank undertakes banking and investment activities for itself and third parties (retail and corporate) inside the Kingdom and abroad.

Al Rajhi Bank debuted on Tadawul on Dec. 1, 1988.

Al Rajhi Bank increased its capital six times through bonus issues, thus bringing it to SAR 25 billion.

The General Organization for Social Insurance (GOSI) is the largest shareholder in the bank, with a 9.61% stake.