Riyadh-Amlak

<Recent statistics showed that the consolidated profits of Saudi banks listed on the financial market during the first nine months of 2013 increased by about 5 percent to 23.08 billion riyals, compared to 21.99 billion in the same period last year, and this study does not include the profits of the National Bank or branches of foreign banks operating in the Kingdom.
All listed banks, according to Arqaam, recorded varying increases in profits with the exception of Al Rajhi, French and Albilad The results of the third included capital gains of 373 million riyals during 2012, and excluding these profits, the bank's profit growth rate is 34 percent. Investment Bank achieved the highest growth rate of 44 percent, thanks to improved operating income and a decrease in operating expenses compared to the same period of the previous year, followed by Alinma Bank with 38 percent and Al Jazira with 24 percent.
In terms of the development of quarterly profits of banks during the current year, the third quarter profits declined compared to the previous two quarters by about 2 and 8 percent, respectively, due to the decline in the profits of the three banks (Al Rajhi, Al Arabi and SABB) as a result of a decrease in total operating income and an increase in operating expenses.
The banks« consolidated assets continued to increase during the period, growing by 11 percent to SAR 1449 billion compared to the corresponding period of 2012 and by 2 percent compared to the previous quarter. Customer deposits increased by 13 percent to SAR 1117.4 billion, and consolidated loans grew by 14 percent compared to the previous year. Saudi banks» multiples ranged between 9.6 times and 14.8 times based on the first nine-month results adjusted for the full year (with the exception of Alinmaa Bank and Al Balad), which are still high compared to other banks, so the average profitability ratio of the banking sector according to the first nine-month results is about 11.9 times.

The average profitability ratio of the banking sector according to the first nine-month results is about 11.9 times.