KSA Banks Reports SR38b Record Profits in 2013

by Saudi Commerce | Jan 21, 2014
The Saudi commercial banks registered the highest ever growth in profits by the end of 2013 to reach SR37.6 billion compared to SR35.1 billion in 2012, or an increase of 7 percent, according financial report.  Profits of the fourth quarter for all listed and unlisted banks grew by 5 percent to SR8.48 billion compared to SR8.1 billion in Q4 of 2012. However, the Q4 profits declined by 7 percent compared to the Q3 profits, which stood at SR9.15 billion

Profits of the listed banks (the National Commercial Bank – NCB not listed) hit SR29.77 billion in 2013 compared to SR28.65 billion in 2012, or an increase of 4 percent, the report said. Quarterly profits of the listed banks during the Q4 slightly grew by 0.4 percent to reach SR6.69 billion compared to SR6.66 billion in the same period last year but, however, dropped by 10 percent compared to figures of Q3, which stood at SR7.41 billion, according to the report.

The National Commercial Bank registered the highest profits at SR7.85 billion in 2013 compared to SR6.45 billion in 2012 or a growth rate of 22 percent followed by the Saudi British Bank (SABB), which posted SR3.77 billion compared to SR3.24 billion (+16 percent).

The share of both banks to the overall banking profit growth stood at 55 percent and 21 percent, respectively. Profits of other banks in 2013 were as follows: Riyad Bank SR3.95 billion compared to SR3.47 billion in 2012 (+14 percent), the Saudi Investment Bank (SAIB) SR1.29 billion compared to SR912 million in 2012 (+41 percent), Alinma Bank SR1 billion compared to SR733 million in 2012 (+37 percent), Saudi Hollandi Bank (SHB) SR1.5 billion compared to SR1.25 billion in 2012 (+20 percent), Samba Financial Group (SFG) SR4.51 billion compared to SR4.33 billion in 2012 (+35 percent), Bank AlJazira SR651 million compared to SR500 million in 2012 (+30 percent), and Arab National Bank (ANB) SR2.52 billion compared to SR2.37 billion in 2012 (+6 percent), the report said.

On the other hand, three banks have their profits dropped as follows: Banque Saudi Fransi (BSF) SR2.4 billion compared to SR3 billion in 2012 (-20 percent), Al-Rajhi Bank SR7.44 billion compared to SR7.89 billion in 2012 (-6 percent), and Bank Albilad SR729 million compared to SR942 million in 2012 (-23 percent), the report said. As regards shares of each bank to the overall profits of the banking sector in terms of value, the NCB captured the biggest portion at 21 percent, followed by the Al-Rajhi Bank at 21 percent, SFG at 12 percent, and Riyad and SABB at 10 percent for each, the report said.

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  1. 1 Abdulla Al Zaharani 29 Jan
    I think we need to have better explanation for this

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