Listed Saudi banks achieved a net profit of 22.25 billion riyals during the first half of this year compared to about 21.65 billion riyals during the first half of last year.
The profits of Saudi listed companies, listed on the Tadawul Stock Exchange, rose by 2.8 percent (603) million riyals by the end of the first half of this year. According to the data, the bank profits fell 4.8% to SAR 10.1 billion by the end of the second quarter of this year from SAR 10.6 billion registered at the end of the second quarter of 2018.
On a quarterly basis, the Saudi banks reported a 17% decline in net profit during the second quarter of 2019 compared to the first quarter of this year and a decline of SAR 2.1 billion. NCB (the largest Saudi bank in terms of assets and capital) achieved the highest share of the sector's profits by 24.5% with a value of SAR 5.461 billion (14.5% YoY), while Al-Rajhi Bank acquired 23.2% of the total profit of SAR 5.2 billion (8.3% growth).
Source (Al-Khaleej newspaper, Edited)
