From Arab News: Saudi banks rank among most profitable

Despite regional unrest, Saudi banks performed exceptionally well in the second quarter of this year. The 12 local commercial banks recorded a staggering SR8.2 billion in net profits, marking a 15.3 per cent increase over the same period last year, according to the National Commercial Bank’s (NCB’s) weekly Market Review & Outlook.

All banks recorded gains, some with quadruple digit growth rates, apart from Samba Financial Group which witnessed a decrease of 9.7 per cent due to lower net special commission income (NSCI) levels, a decline of 5.7 per cent.

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