* Talal Al-Sayah from Riyadh
The consolidated profits of the Saudi banking sector during the first half of this year was 25.1 billion riyals, a growth of 9.1 per cent compared to the same period last year, as the corporate sector contributed about SR 8.4 billion of profits while individuals accounted for about 7.8 billion.
According to an analysis of the Economic Reports Unit based on the banks' data on the Tadawul website, 31.2 per cent of banks' profits came from the retail sector, 31.1 per cent from the treasury sector, 33.5 per cent from the corporate sector and 4.2 per cent from other sectors.
The retail sector's profits in the first half of this year rose to SR 7.8 billion compared to SR 7.09 billion in the same period last year, a growth of 10.3 percent to SAR 732 million.
The corporate sector recorded a growth of 2.2 percent, equivalent to 184 million riyals, as the profits of banks from the sector was about 8.4 billion riyals during the first half of the year 2018 compared to 8.21 billion riyals for the same period last year.
The treasury's profits were amounted to about 7.8 billion riyals compared to 6.9 billion riyals during the first half of 2017, recording a growth of 13.7%, equivalent to 937 million riyals.
The other sectors recorded a 28.6% growth in earnings of SR 235 million from SR 821 million in the first half of 2017 to reach SR 1.1 billion in the first half of 2018.
As for the profits of banks from the individuals sector, "Al-Rajhi Bank" came first with about 3.2 billion riyals, followed by "National Commercial Bank" with SR 1.9 billion, "SABB" with SR 576.9 million, "Samba" by 558.4 million riyals, "Riyadh Bank" by 307.3 million riyals, "Alinma" reached SR 286.2 million, "Investment Bank" by 233.2 million riyals, "Alfransi" by 191.2 million riyals, "Arab Bank" by 174.1 million riyals, "Albilad" by 173.6 million riyals, "Al Jazeera" with 167.8 million riyals, and "Alawwal" with 150.3 million riyals.
In terms of the corporate sector, "SABB" has issued SR 1.34 billion, "National Commercial Bank " by 1.3 billion riyals, and "Samba" by 1.13 billion riyals.
In terms of the treasury sector, "National Commercial Bank" was the most profitable by SR 2.03 billion, "Riyadh Bank" with SAR 933.8 million and "Al Rajhi" with SR 888.8 million.
As for other sectors, "National Commercial Bank" is the most profitable bank in the sector that reached SR 381 million, then "Arab Bank" with 202.7 million riyals, and "Al-Rajhi" with 200.6 million riyals.
Aleqtisadiah has been published-in 31 July 2018 – the consolidated profits of the banking sector, which reported that it amounted to 25.153 billion riyals compared to 22.969 billion riyals during the same period of 2017, achieving a growth rate of 9.5 percent, equivalent to 2.184 billion riyals.
However, the previous data were preliminary according to the Tadawul website, and the data contained in today's report are audited by the financial statements of the Saudi banks.
* Economic Reports Unit
