Saudi banks’ aggregate profit grows 14% in March
Published 01 May,2021 via Arab News - Economy RIYADH - Saudi Arabia-listed banks reported a 14 percent rise in aggregate net profit before Zakat and tax to the tune of SR 4.02 billion in March 2021 as against SR 3.53 billion a year earlier, according to data from the Saudi Central Bank (SAMA).
The data covers 11 listed banks and some foreign banks operating in the Kingdom.
Banks' aggregate assets grew by over 11 percent year on year (YoY) to SR 3.035 trillion in March, combined deposits increased by 9 percent YoY to SR 1.980 trillion in the same month, whereas loans to the private sector saw an increase of 15 percent YoY to around SR 1.871 trillion by the end of March, financial news portal Argaam reported.
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