Saudi banks’ total profit rises 7% in May: cbank

The total profit of Saudi Arabia’s banks rose 7 percent to SAR 3.82 billion in May, compared to the same month last year, Saudi Arabian Monetary Agency (SAMA), or the central bank, said in its monthly report on Sunday.

Meanwhile, total deposits rose to SAR 1.646 trillion in the month, a 10 percent growth, compared with the same period last year, the central bank added.

Year-to-date, the combined profits of the 12 listed lenders and 11 branches of foreign banks rose 3 percent to SAR 18.8 billion.

Total assets have increased eight percent to SAR 2.202 trillion through May.