Saudi banks report strong Q2 in sign of economic upturn
Published 10 Aug,2021 via Arab News - Economy RIYADH - Saudi banks reported have reported improved financial results in a sign of economic recovery following a slump amid the COVID-19 pandemic.
In the second quarter of 2021, Saudi banks reported a net profit of SR11.06 billion ($2.94 billion).
The Saudi British Bank (SABB) saw the highest growth among nine Saudi banks that reported a rise in their quarterly incomes. The Arab National Bank, however, was the only bank that reported a decline in its net income in Q2, according to its filings.
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