17 Jumada II 1443 - 20 January 2022
  • Twitter Facebook Instagram Icon Linkedin Youtube Snapchat Alexa Icon
Sign up for newsletter
Eye of Riyadh
Eye of Riyadh
Business & Money | Sunday 18 January, 2015 9:43 am |

Saudi banks’ profits up 10% to SR40 billion in 2014

Profits of the listed Saudi banks grew by 10 percent to hit SR40.2 billion ($10.7 billion) by the end of 2014, compared to SR36.6 billion ($9.7 billion) in 2013, according to a financial report.
The National Commercial Bank (NCB) registered the highest profits at SR8.66 billion (+10.23 percent) in 2014 compared to SR7.85 billion, or 21.5 percent of the overall bank sector’s profits, the report filed by Al-Hayat daily said.
Capitals of the 12 listed banks stand at SR144 billion with their market capitalization worth SR525 billion, or 29 percent of the value of Saudi stock market, the report said.
Al-Rajhi Bank was the second biggest profit maker of the sector at SR6.83 billion in 2014 compared to SR7.44 billion, or a decrease of 8.09 percent. Its profits represented 17 percent of the banks’ total profits in the year, the report said.
Meanwhile, profits of Samba Financial Group (SFG) rose by 11.11 percent to SR5.01 billion in 2014, compared to SR4.51 billion or 12.5 percent of the bank sector’s total profits, the report said.
The other banks posted profits at different rates in 2014 compared to 2013 figures as follows: Riyad Bank SR4.35 billion compared to SR3.94 billon (+10.26 percent), Saudi British Bank (SABB) SR4.26 billion compared to SR3.77 billion (+13.04 percent), Banque Saudi Fransi (BSF) SR3.51 billion compared to SR2.40 billion (+46.13 percent), Arab National Bank (ANB) SR2.87 billion compared to SR2.52 billion (+14 percent), Saudi Hollandi Bank (SHB) SR1.82 billion compared to SR1.5 billion (+21.3 percent), Saudi Investment Bank (SIB) SR1.43 billion compared to SR1.28 billion (+12 percent), Albilad Bank SR 864 million compared to SR729 million (+18.49 percent), Bank AlJazira
SR572 million compared to SR651 million (-12 percent), the report said.
Post Your Comment
Future Banks Summit 2021-Second Day
Future Banks Summit 2021-Second Day
Tuesday 9 November, 2021 12:02