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  • 31-01-23

    Central bank data: Saudi banks’ revenues rise 21 percent by 2022’s end

    (MENAFN) Deposits in Saudi banks surged by 9 percent on a yearly basis to reach SR2.29 trillion (USD609.97 billion) with the main share of deposited by administrations agencies, the month on month bulletin released by the Saudi Central Bank, also recognized as SAMA, indicated.

    Data showed that deposits by administrations entities jumped by 27 percent, the peakiest in 16 years, amounting to SR651.2 billion (USD173.1 billion).

    Saudi-listed banks recorded a 21 percent increase in aggregate net revenue before zakat as well as tax to SR6.16 billion (USD1.64 billion) in December last year, in comparison with SR5.11 billion (USD1.36 billion) a year before.

    The figures covered the outcomes of Tadawul-registered banks and some foreign banks working in Saudi Arabia.

    Banks’ total assets rose around 10 percent on a yearly basis to SR3.62 trillion (USD 964 billion) in the stated month.

    Loans released to individuals in the nation witnessed a 14 percent increase throughout 2022 amounting to SR1.17 trillion (USD311 billion) by the end of last year in contrast with SR1.02 trillion (USD269 billion) by the close of 2021.

    MENAFN31012023000045014228ID1105499659

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