Al Rajhi Bank (SAU:1120) Long-Term Capital Lease Obligation : ﷼0 Mil (As of Mar. 2024)

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What is Al Rajhi Bank Long-Term Capital Lease Obligation?

Al Rajhi Bank's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ﷼0 Mil.

Al Rajhi Bank Long-Term Capital Lease Obligation Historical Data

The historical data trend for Al Rajhi Bank's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
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Al Rajhi Bank Long-Term Capital Lease Obligation Chart

Al Rajhi Bank Annual Data

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Long-Term Capital Lease Obligation

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Al Rajhi Bank Quarterly Data
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Al Rajhi Bank (SAU:1120) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Al Rajhi Bank (SAU:1120) Business Description

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Address

8467 King Fahd Road, Unit No. 1, Al Muruj District, Riyadh, SAU, 12263 - 2743

Website

https://www.alrajhibank.com.sa

Al Rajhi Bank is an Islamic bank with a network of over 500 branches. Its segments include the Retail segment which includes accepting individual customer deposits, providing credit facilities, customer debit current accounts, fees from banking services, and remittance business; Corporate segment that incorporates deposits of VIP, corporate customer deposits, credit facilities, and debit current accounts, Treasury segment through which it offers treasury services, Murabaha with SAMA and international Mutajara portfolio; and Investment services and brokerage that incorporates investments of individuals and corporate in mutual funds, local and international share trading services and investment portfolios.

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