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The financial markets wherein the Bank operates have gotten extra competitive with new entrants aggressively competing for market share. The merchandise include financing for working capital, trade finance, money management and term financing in addition to specialised products which can be tailor made for a selected objective. Net financing and funding income grew by 4.8% from SR 9,070 million in 2011 to SR 9,501 million in 2012, and accounted for 67.9% of the SR 13,983 million complete working earnings. As a net consequence, backside line total comprehensive income increased by 6.9% from SR 7,378 million in 2011 to SR 7,885 million in 2012, with earnings per share reaching SR 5.26 by way of a corresponding enhance. The stability SR 2,604 million (6.4%) comprises investments held as Fair Value by way of Income Statement (FVIS), which includes Sukuk, equity investments and mutual funds. ARC Mutual Funds have been recognized and awarded persistently for his or her outstanding efficiency through the years by trade leaders, with the most recent addition being the Saudi Arabia Asset Manager of the 12 months 2012 from the worldwide Investor Magazine. Significant initiatives through the yr included launching of the Al Rajhi MENA Dividend Growth Fund, consolidation of existing Funds to offer a extra related and targeted product vary to the shoppers, changing the Sub – Manager and Custodian of the Al Rajhi Global Equity Fund with Credit Suisse AG, Zurich and appointing HSBC, Saudi Arabia for custody providers of Sukuk securities invested via the Funds managed by the corporate.
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