Saudi banks’ aggregate profit up 24% to SAR 7 bln in June

Banks operating in Saudi Arabia reported a 24.4% leap in aggregate net profit before Zakat and tax to nearly SAR 7 billion in June, compared to SAR 5.6 billion a year earlier, monthly data issued by the Saudi Central Bank (SAMA) showed.

The data covers the results of Tadawul-listed banks and some foreign banks operating in Saudi Arabia.

Banks' aggregate assets grew more than 8.5% year-on-year (YoY) to SAR 3.82 trillion in June. 

Deposits rose by 9.3% YoY to reach SAR 2.43 trillion in the same month.

Loans to the private sector increased by 9.6% YoY to close June at more than SAR 2.41 trillion.