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21-01-14

Saudi banks' profits grow by 7 percent in 2013

(MENAFN) The Saudi commercial banks saw a significant growth in profits in 2013 totaling at USD10 billion compared to USD9.35 billion in 2012, according to Arab News. The banks' profits rose by 7 percent in 2013, registering its highest level ever. Net profits in the fourth quarter of 2013 boosted by 5 percent, reaching USD2.260 billion compared to USD2.15 billion during the same quarter in 2012.