Riyadh – Mubasher: Saudi banks’ profits fell 5.4% year-on-year in 2016 to SAR 40.36 billion from SAR 42.68 billion, reported Saudi Arabian Monetary Agency (SAMA).
The banks’ profits reported a 69% annual drop in December 2016 to reach SAR 1.04 billion, compared to SAR 3.36 in the same month of 2015, to record the lowest monthly profits since September 2010 of SAR 268 million.
On the other hand, deposits added 0.76% by the end of December 2016 to SAR 1.62 trillion compared to SAR 1.6 trillion recorded in the year-ago period.
