Banks Operating in the Kingdom Earn SR53.9bln, in 2021 Profits

Profits of banks operating in Saudi Arabia, before zakat and tax, have risen at the end of December to SR5.113 billion, or 28.6%, compared to their profits in November 2021, at SR3.975 billion, recording an increase of about 133% compared to their profits in December 2020, at SR2.2 billion, SAMA reported.

On the other hand, the profits of banks operating in Saudi Arabia rose to SR53.9 billion at the end of 2021, an increase of 39.2% compared to theirs in the previous year, at SR38.7 billion, to record the highest profits before zakat and taxes, in their history, the Saudi central bank elaborated.

The profits of Saudi banks before zakat and tax, at the end of the 4th quarter of 2021 increased to SR13.7 billion, a growth rate of 23.5% compared to their profits in the same quarter of the Year 2020, at SR11.1 billion.

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