Saturday, 3 June 2023

SAMA: Banks’ profits in Saudi Arabia jump 27.5% SR5.6 bln to during April

The Saudi Central Bank (SAMA) revealed in its monthly report for April 2022 that profits of banks operating in Saudi Arabia (before zakat and tax) rose 27.5% to SR 5.59 billion compared to April 2021 when it reached SR 4.383 billion, while their profits declined 7.3% from SR 6.027 billion in March 2022.

It is noteworthy that the operating banks in the Kingdom reported profit jump of 39.2% to SR 53.9 billion in 2021, the highest ever (before zakat and tax), from SR 38.7 billion in 2020.

The collected profits include the operating banks’ financial results in the Kingdom without abroad branches, in addition to the foreign banks operating in Saudi Arabia.

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