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17-04-14

Saudi banks profits up 6 percent in Q1

(MENAFN) Saudi banks registered 6 percent growth in profit in the first three months of the current year reaching USD2.826 billion compared to USD2.666 billion in the same quarter 2013, according to Arab News. Al-Eqtisadiah Daily reported that listed banks saw 5 percent rise in profits reaching USD2.159 billion during the quarter compared to USD2.026 billion first quarter 2013. In the first quarter 2014, profits of all banks increased 25 percent quarter-on-quarter compared to USD2.266 billion in the fourth quarter of 2013.