Saudi-listed banks’ net profit jumps 18% in January: SAMA

RIYADH: The aggregate net profit of Saudi-listed banks rose 18 percent before zakat and tax to reach SR6.41 billion ($1.7 billion) in January as compared to SR5.41 billion a year earlier, official data showed.

The monthly figures issued by the Saudi Central Bank, also known as SAMA, showed the banks’ aggregate assets grew by nearly 12 percent year-on-year to SR3.61 trillion.

According to the report, combined deposits rose by nearly 9 percent year-on-year to SR2.27 trillion in January.