Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII) growth (+3.8 percent QoQ) but was undermined by a marginal decline in non-core income (-0.5 percent QoQ), reveals global professional services firm Alvarez & Marsal (A&M) has released its latest...
Top 10 Saudi banks experience slow profit growth in Q1
Despite improvement in cost-to-income ratio, net profit sees only a marginal rise of 2.7% QoQ to $4.61bn due to slower growth in operating income and high impairment charges.
