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FinancialNews
30-03-20
Saudi banks report increase of 13 percent in aggregate net profit
(MENAFN) According to data from the Saudi Arabian Monetary Authority (SAMA), in February 2020, Saudi banks registered an increase of 13 percent yearly in aggregate net income before Zakat and tax to around SAR 4.46 billion.
In January-February 2020, the sector's aggregate earnings rose by 10 percent yearly to SAR 9.69 billion in comparison with SAR 8.84 billion in the same period 2019.
The data covers 11 listed banks and other foreign banks functioning in KSA.
Banks' aggregate assets grew 13 percent yearly to SAR 2.675 trillion in the same month.
MENAFN3003202000450000ID1099935101
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