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HomeWorldSaudi banks profits fall 12.6% in Oct-Nov

Saudi banks profits fall 12.6% in Oct-Nov

 Saudi banks made a profit of SR3.94bn ($1.05bn) between October and November.(Getty Images)Profits generated by Saudi commercial banks, including the 11 listed ones, fell 12.6 percent in the October-November period, central bank data showed on Monday ahead of fourth-quarter earnings announcements.

Excluding branches abroad, Saudi banks made a profit of SR3.94bn ($1.05bn) during the period, according to the Saudi Arabian Monetary Agency’s (SAMA) website.
SAMA did not indicate if the data related to net profi

 and described it only as cumulative profit. Saudi-listed firms were due to start publishing fourth-quarter earnings next month.

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