RIYADH: The aggregate net profit of Saudi-listed banks rose 18 percent before zakat and tax to reach SR6.41 billion ($1.7 billion) in January as compared to SR5.41 billion a year earlier, official data showed.
The monthly figures issued by the Saudi Central Bank, also known as SAMA, showed the banks’ aggregate assets grew by nearly 12 percent year-on-year to SR3.61 trillion.
According to the report, combined deposits rose by nearly 9 percent year-on-year to SR2.27 trillion in January.
Lending to the private sector also jumped by almost 12 percent year-on-year to reach SR2.29 trillion in the aforementioned period.
The central bank data showed its assets decreased by SR11.6 billion month-on-month to SR1.92 trillion in January. However, when compared to the figures of January 2022, the assets grew by SR94.2 billion.
SAMA’s investments in foreign securities, which account for 56 percent of its total assets, declined to around SR1.07 trillion last month.
