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Al Rajhi Bank Lowers Loan-Loss Provisions 18% in Second Quarter

Al Rajhi Bank (RJHI), Saudi Arabia’s largest publicly-traded lender by market value, reduced provisions for bad loans by 18 percent in the second quarter.

Provisions declined to 346.8 million riyals ($92 million) in the three months ended June 30, from 422.1 million riyals a year earlier, according to data posted on the Saudi bourse website yesterday.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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