SAMA: Banks operating in Saudi Arabia earn SR5.8 billion in ‎a ‎month, 46% jump ‎

The Monthly Statistical Bulletin of the Central Bank of Saudi Arabia (SAMA) for November 2022 revealed an increase in the profits of banks operating in Saudi Arabia before zakat and taxes at the end of last month to SR5.8 billion, or 46%, compared to their profits in October 2021, which stood at SR 3.975 billion, while decreased by 4.5% or SR 276 million from their profits In October 2022, which stood at SR 6.08 billion.

The profits of banks operating in Saudi Arabia before zakat and taxes increased by the end of the first 9 months of this year to 51.224 billion riyals, by 22.7%, compared to their profits in the same period of the previous year 2021, which were 40.18 billion riyals, while the profits of the third quarter of The year 2022, 18.233 billion riyals, an increase of 20.7% from the profits of the comparative quarter of the previous year, which were 15.106 billion riyals.

The banks achieved profits amounting to 53.9 billion riyals at the end of the year 2021, a 39.2% increase from their profits in the previous year, which were 38.7 billion riyals, to record the highest profits before zakat and taxes in its history.

The consolidated profits include the results of Saudi banks operating in Saudi Arabia excluding foreign branches, in addition to the branches of foreign banks operating in the Kingdom.