Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Al Rajhi Bank H1 profit is up 21%

Al Rajhi Bank is Saudi Arabia's second-largest lender by assets.
By TRENDS Desk
August 1, 2022 2:56 pm
  • Operating income grew because of higher investment income, banking fees, and exchange income, the bank said
  • But the depreciation, higher salaries, and employee benefits weighed on costs during the six-month period, leading to a 4.5 percent rise in operating expenses

Al Rajhi Bank on Sunday posted a higher profit of SR8.4 billion ($2.2 billion) for the first half of 2022, exceeding the analysts’ expectations

This is a 21 percent profit surge from SR6.9 billion in the same period last year, bolstered by a 15 percent jump in operating income.

Operating income grew because of higher investment income, banking fees, and exchange income, the bank said.

But the depreciation, higher salaries, and employee benefits weighed on costs during the six-month period, leading to a 4.5 percent rise in operating expenses.

Al Rajhi Bank’s impairment charges for financing went down slightly from SR1.161 billion to SR1.159 billion.

[adinserter block="5"]

Most Read

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]