The assets of the Saudi banking sector as of the end of last June amounted to 2.84 trillion riyals (757.2 billion dollars), deposits of 1.84 trillion riyals (491.5 billion dollars), while loans amounted to 1.67 trillion riyals (445.9 billion dollars).
Profits of Saudi banks listed on the local stock exchange, during the first half of this year, fell by 40.9 percent, to 13.15 billion riyals ($ 3.51 billion). While the listed banks in the stock exchange (11 banks) recorded a net profit of 22.24 billion riyals ($ 5.93 billion) during the same period of the previous year 2019.
The profits of the National Commercial Bank, the largest Saudi bank in terms of assets and capital declined during the first half of 2020 by 9.9 percent, to 4.92 billion riyals ($ 1.31 billion). The National Bank achieved the highest share of the sector’s profits, at 37.4 percent. Al-Rajhi Bank recorded the second-highest profit, accounting for 36.6 percent of the sector's profitability, as its profits fell by 5.6 percent, to 4.82 billion riyals ($ 1.28 billion). While Riyad Bank recorded the third-highest profit rate of 2.54 billion riyals ($ 677 million), a decrease of 14.9 percent.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
