Riyadh - Mubasher: Saudi banks’ profits levelled up 2.15% year-on-year during the first five months of 2016 to SAR 19.24 billion from SAR 18.84 billion, reported Saudi Arabian Monetary Agency (SAMA).
The banks’ profits recorded a 3.4% annual raise in May 2016 to reach SAR 3.95 billion, compared to SAR 3.82 in the same month of 2015.
On the other hand, deposits dropped 3.4% by the end of May 2016 to SAR 1.59 trillion compared to SAR 1.65 trillion recorded by the end of May 2015.
According to SAMA, the Saudi banks’ profits registered their second highest level in 12 months in May, after recording SAR 3.98 billion in March 2016.
