According to the results of the bank for the Saudi market, today, Sunday, the profits for the period amounted to 920.1 million riyals, compared to profits of 816.5 million riyals for the same period last year.
The bank said that the increase in quarterly profits is due to a 6.5% growth in total operating income as a result of the increase in special commission income and unrealized gains from financial instruments listed at fair value through Profit or loss and dividend income, offset by a decrease in net fees and commission income, foreign exchange earnings, net trading income and other operating income; in addition to the increase in the bank’s share of the profits of associates.
As for the deposits of the bank’s customers, it witnessed a decline of about 1.5% to reach 128.05 billion riyals, compared to 130.03 billion riyals in the first quarter of 2018.
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