The monthly bulletin of the Saudi Arabian Monetary Authority (SAMA) for September 2017 revealed that the profits of banks operating in Saudi Arabia rose to 33.38 billion riyals by the end of the first nine months of this year, an increase of 600 million riyals compared to their profits in the same period last year, which stood at 32.78 billion riyals.

In contrast, bank profits rose in September to 3.2 billion riyals, an increase of 34.41%, compared to profits in the same month last year, which stood at 2.38 billion riyals.

On the other hand, bank profits declined by the end of last September by 18% compared to August’s profits, which stood at 3.96 billion riyals.

Consolidated profits include the results of 12 Saudi banks operating in the Kingdom without overseas branches, in addition to the branches of foreign banks operating in the Kingdom.