SAMA reported that Saudi banks recorded profits exceeding 50 billion rials during 2019.
Saudi banks reported in December 2019 to the newspaper that they had earned a profit of 4.05 billion riyals before paying any zakat or taxes, the newspaper reports.
This result is 7% higher than in December 2018 when banks made a profit of 3.77 billion riyals.
Saudi banks reported a 5% increase in profits compared to 2018: 48.1 billion rials in 2018 versus 50.5 billion rials in 2019.
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