RIYADH: Saudi Arabia’s Al Rajhi Bank hit SR14.7 billion ($4 billion) net profit in 2021, as total operating income jumped over 24 percent. This brings the profit up 39 percent on the year as net profit in 2020 stood at SR10.5 billion, according to a statement by the bank. The rise in operating income was fueled by higher financing and investment income, fees from banking services, and exchange income, the bank said. That said, it noted that higher salaries and more employee benefits weighed on expenses during the year, which rose 4.1 percent. The bank also saw an increase in impairment charges from SR2.16 billion to SR2.34 billion.