Skip to content
The Saudi National Bank records a 20% increase in its profits
The Saudi National Bank records a 20% increase in its profits

The Saudi National Bank records a 20% increase in its profits

Today, Sunday, the Saudi National Bank, the largest lender in the country, announced that its profits for the third quarter rose by about 20% from the high fees.

The Swiss National Bank reported a net profit of 3.8 billion riyals ($1.0 billion) for the quarter ended September 30, up from 3.2 billion riyals in the same period a year ago, according to Reuters.

The result was better than the average analyst forecast of 3.6 billion riyals for Refinitiv Eikon data.

The Saudi Bank said total operating income rose by 38.4% mainly due to higher net special commission income, foreign exchange income and higher banking services fees.