Saudi Arabia’s largest lender, also known as Al Ahli Bank, posted a 14.5 percent year-on-year (YoY) rise in net profit for H1 2019. It was the first bank to officially operate in the kingdom in 1953. In 1999, the Saudi government’s Public Investment Fund (PIF) acquired the majority of shares, before listing 25 percent of shares on the Saudi Stock Exchange (Tadawul).