“SAMA”: Banks operating in Saudi Arabia earn 6.8 billion riyals within a month

The monthly bulletin of the Central Bank of Saudi Arabia for February 2024 revealed that the profits of banks operating in the Kingdom before zakat and taxes increased by the end of February 2024 to 6.795 billion riyals, or 31.1%, compared to their profits in February of the year 2023, which were 5.184 billion riyals, while they decreased by about 224 million riyals. And by 3.2% from its profits in January 2024, which were 7.019 billion riyals.

It is noteworthy that the profits of banks operating in Saudi Arabia before zakat and taxes increased by the end of the year 2023 to 77.397 billion riyals, or 11.7%, compared to their profits in the previous year 2022, which were 69.272 billion riyals, while the profits of the fourth quarter of the year 2023 amounted to 19.151 billion riyals. An increase of 6.1% compared to the profits of the comparative quarter of the previous year, which was 18.05 billion riyals.

The profits of banks operating in Saudi Arabia in the year 2023, amounting to 77.4 billion riyals, which increased by 11.7% from their profits in the previous year, which were 69.3 billion riyals, are the highest profits before zakat and taxes recorded in their history.

The monthly bulletin of the Central Bank of Saudi Arabia for February 2024 revealed that the profits of banks operating in the Kingdom before zakat and taxes increased by the end of February 2024 to 6.795 billion riyals, or 31.1%, compared to their profits in February of the year 2023, which were 5.184 billion riyals, while they decreased by about 224 million riyals. And by 3.2% from its profits in January 2024, which were 7.019 billion riyals.

It is noteworthy that the profits of banks operating in Saudi Arabia before zakat and taxes increased by the end of the year 2023 to 77.397 billion riyals, or 11.7%, compared to their profits in the previous year 2022, which were 69.272 billion riyals, while the profits of the fourth quarter of the year 2023 amounted to 19.151 billion riyals. An increase of 6.1% compared to the profits of the comparative quarter of the previous year, which was 18.05 billion riyals.

The profits of banks operating in Saudi Arabia in the year 2023, amounting to 77.4 billion riyals, which increased by 11.7% from their profits in the previous year, which were 69.3 billion riyals, are the highest profits before zakat and taxes recorded in their history.