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Tadawul listed banks’ profit jumps 11% YoY in Q3

Tadawul listed banks’ profit jumps 11% YoY in Q3
profits of the Saudi bourse's lenders went up SAR 3.4 billion, or 9.9% to SAR 37.75 billion in 9M-18
Alawwal Bank
1040
1.45% 19.58 0.28
SAMBA
1090
4.62% 38.50 1.70
Default Company
1120.O
0.00% 0.00 0.00

SAB
1060
18.86% 41.60 6.60
Default Company
1010.O
0.00% 0.00 0.00
Default Company
1050.B
0.00% 0.00 0.00

SAIB
1030.B
-0.70% 17.04 -0.12
Default Company
1140.O
0.00% 0.00 0.00
Default Company
1180.O
0.00% 0.00 0.00

Default Company
1150.O
0.00% 0.00 0.00
Default Company
1080.O
0.00% 0.00 0.00
BJAZ
1020
19.14% 20.04 3.22

By: Elsayed Gamal

Riyadh – Mubasher: Saudi banks listed on the Saudi Stock Exchange (Tadawul) achieved SAR 1.21 billion ($324 million), or 10.7% year-on-year profit growth in the third quarter of 2018, with the exception of Alawwal Bank’s profits that dipped 22.6%.

Net profits of Tadawul’s banks surged to SAR 12.59 billion ($3.36 billion) during the three-month period ended September, from SAR 11.37 billion ($3.03 billion) in Q3-17, according to Mubasher’s statistics.

Al Rajhi Bank acquired 20.4% of the banking sector’s profits after generating SAR 2.57 billion from July to September.

Around eleven banks in Saudi Arabia achieved a year-on-year profit rise during Q3-18.

Banks’ 9M profit grows 10% 

During the first nine months of 2018, profits of the Saudi bourse's lenders went up SAR 3.4 billion, or 9.9% to SAR 37.75 billion, from SAR 34.35 billion in the corresponding period a year earlier.

The National Commercial Bank (NCB) dominated about 21.25% of the banking sector’s profits after achieving SAR 8.02 billion from January to September.

Banks listed on Tadawul comprise of NCB, Samba Financial Group, Al Rajhi Bank, Alawwal Bank, Riyad Bank, the Saudi Investment Bank (SAIB), Banque Saudi Fransi (BSF), Bank Albilad, Alinma Bank, the Saudi British Bank (SABB), Arab National Bank, and Bank Aljazira.

Translated by: Mohammad Hesham Azab