Al Rajhi Bank Chairman says NPL coverage ratio exceeds 306%

13/02/2022 Argaam

Abdullah bin Sulaiman Al Rajhi Chairman of Al Rajhi Bank

Abdullah bin Sulaiman Al Rajhi, Chairman of Al Rajhi Bank, said the bank, through its prudent risk management, has increased the provisions against the financing portfolio by more than 23% compared to the previous year.

 

This reflected positively on the strength of the bank's financial position, as the non-performing loans coverage ratio reached more than 306%, he added in a statement received by Argaam.

 

Al Rajhi Bank reported a net profit of SAR 14.746 billion for 2021, a rise of 39% from SAR 10.596 billion in the year-ago period.

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