Friday, 29 March 2024

Highest Ever.. “SAMA”: Banks operating in Saudi Arabia earn ‎SR69.3 bln in 2022, Q4 profits jump 32%‎

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The monthly bulletin of the Saudi Central Bank for the month of December 2022 revealed that the profits of banks operating in the Kingdom before zakat and taxes increased by the end of December of last year to 6.2 billion riyals, at a rate of 20.6%, compared to their profits in December of the year 2021, which were 5.113 billion riyals. While it increased by about 360 million riyals, by 6.2% from its profits in November 2022, which were 5.8 billion riyals.

The profits of banks operating in Saudi Arabia before zakat and taxes increased by the end of the year 2022 to 69.272 billion riyals, or by 28.6%, compared to their profits in the previous year 2021, which were 53.875 billion riyals, while the profits of the fourth quarter of the year 2022 amounted to SR 18.05 billion, an increase of 31.8% over the profits of the comparative quarter of the previous year, which were 13.696 billion riyals.

The profits of banks operating in Saudi Arabia in the year 2022, amounting to 69.3 billion riyals, which increased by 68.6% from their profits in the previous year, which were 53.9 billion riyals, are the highest profits before zakat and taxes recorded in their history.

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The consolidated profits include the results of Saudi banks operating in the Kingdom without foreign branches, in addition to the branches of foreign banks operating in the Kingdom.

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