RIYADH: Saudi Arabia’s largest lender, Saudi National Bank, saw its shares soar to a record high during Wednesday’s trading session, to close 1.34 percent higher. With the stock hitting an all-time closing high of SR75.9 ($20.2), SNB’s market valuation now stands at almost SR340 billion. Earlier in the day, the shares reached their highest level since listing of SR76.8, but then slightly fell at the closing bell. SNB’s 2021 profit was up 10.7 percent to SR12.7 billion, from SR11.4 billion a year earlier. The bank attributed the improved performance to a series of effects that followed the NCB-Samba merger, which fueled a 32.6 percent rise in operating income. The final phases of the merger with Riyadh-based Samba Group were concluded on Jan. 6, 2022.