Al Rajhi Banking and Investment Full Year 2024 Earnings: Revenues Beat Expectations, EPS In Line

Al Rajhi Banking and Investment (TADAWUL:1120) Full Year 2024 Results

Key Financial Results

• Revenue: ر.س29.9b (up 15% from FY 2023).
• Net income: ر.س19.7b (up 25% from FY 2023).
• Profit margin: 66% (up from 61% in FY 2023).
• EPS: ر.س4.67 (up from ر.س3.95 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Al Rajhi Banking and Investment Revenues Beat Expectations

Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in Saudi Arabia.

Performance of the Saudi Banks industry.

The company's shares are up 6.2% from a week ago.

Risk Analysis

Be aware that Al Rajhi Banking and Investment is showing 1 warning sign in our investment analysis that you should know about...

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