Saudi banks' profits surge 3.4 per cent

RIYADH, May 29 (Arab News): The aggregate profit of banks operating in Saudi Arabia increased by 3.4 per cent year on year in April to reach SR5.78 billion ($1.55 billion), according to the latest figures released by the Saudi Central Bank, also known as SAMA.
The report, however, noted that the aggregate profits of Saudi banks fell by SR1.65 billion month on month in April. In March, banks in Saudi Arabia reported an aggregate profit of SR7.43 billion.