By: Thabet Shehata
Riyadh – Mubasher: Profits of ten banks out of twelve listed on the Saudi Stock Exchange (Tadawul) jumped 16.3% year-on-year in the fourth quarter of 2018, recording SAR 11.23 billion from SAR 9.66 billion.
For the full fiscal year of 2018, the ten lenders generated a profit of SAR 45.53 billion, up 12.14% from SAR 40.6 million in 2017, Mubasher reported, citing data from the firms’ announcements on Tadawul.
The deadline for revealing financial statements for Saudi listed companies will end on 31 March.
On the other hand, Banque Saudi Fransi’s (BSF) profits plunged 36.4% year-on-year to SAR 269 million in Q4-18, versus SAR 423 million during Q4-17, while the lender’s annual profits decreased 6.4%, reaching SAR 3.3 billion, compared to SAR 3.53 during 2017.
Translated by: Mohammad Hesham Azab