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20-10-22
SAMA: Saudi finance firms’ net revenue decreases 67.7 percent in Q2
(MENAFN) The net revenue of Saudi finance firms decreased 67.7 percent to SR283 million (USD75.2 million) in the April-June period from SR593 million (USD157 million) in the January-March period, revealed the data from the Saudi Central Bank, also known as SAMA.
It’s the biggest fall registered in 4 years (2018), when SAMA began recording the figures, indicating a limit in the cash flow from functioning actions.
In line with the report, Saudi finance firms also registered the worst net income since the October-December period last year, which stood at SR103 million (USD27.4 million).
The regain on assets fell to 0.51 percent in the April-June period from 1.6 percent in the quarter before — the highest since the beginning of 2018.
The figure also indicated that finance firms’ return on equity dropped by a record 2.73 percent in the April-June period, declining from 4.03 percent in the opening quarter to reach 1.3 percent in the second quarter.
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