According to the bank’s results for the Saudi market today, the profit for the period amounted to 1.29 billion riyals, compared to profits of 1.04 billion riyals for the same period last year.
The bank said that the increase in profit for the period is due to an increase in total operating income of 11.8% as a result of the growth in net special commission income by about 12.4%, and the increase in net profit for the conversion of currencies by 2.2%.
The bank stated that the total operating expenses decreased during the period by 4.5% and includes an improvement in the provision for credit losses by 56.2% with the increase in other operating expenses, including 58 million riyals related to expenses The integration planning process for the quarter.
The results showed that the bank's customer deposits decreased by 6% to 127.24 billion riyals compared to 135.39 billion riyals for the same period in 2018.
Namazon Services..programmed technical analysis platform ... for Emirati, Saudi, and global markets
To more:
