Saudi banks’ aggregate profit up % to SAR 7.61B in June

Banks operating in Saudi Arabia reported a 9% rise in aggregate net profit before Zakat and tax to nearly SAR 7.61 billion in June, compared to SAR 6.98 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 rose by 10% year-on-year (YoY) to almost SAR 4.21 trillion in June.

Deposits grew by 9% YoY to reach SAR 2.66 trillion in the same month.

June’s loans to the private sector grew by nearly 11% YoY to SAR 2.69 trillion.