Revenue for the first half of 2022 increased 16%.
Saudi National Bank posts 20% jump in net profit to $1bn
Saudi National Bank (SNB), the kingdom’s biggest lender, has posted a nearly 20% jump in net profit to $1 billion in third quarter from higher fees.
Jadwa says a drop in Saudi joblessness a sign of healing economy
A drop in Saudi joblessness during the second quarter of the current fiscal year from 11.7 percent to 11.3 percent is seen as a sign of a healing economy, according to investment bank Jadwa.
Top Saudi banks see increase in deposits and financing in Q2
Top Saudi banks have seen strong growth in the second quarter of the current fiscal in financing and deposits. According to Alvarez & Marsal, the professional services firm, core operating income rose 8.4 percent from the first quarter to the second quarter of 2021, while L&A increased by 13.1 percent...
GDP of OECD economies up by 1.6 percent in Q2
Despite the rise in the GDP of the Organization for Economic Co-operation and Development (OECD) economies to 1.6 percent in Q2 2021 from 0.6 percent in the previous quarter, it still remains below pre-pandemic levels.
Saudi banks cheer recovery with surge in loans
Driven by an increase in net loans and return on equity in the second quarter, Saudi Arabian banks are sitting pretty as the region’s economy continued its rebound from the Covid pandemic.
Damac Properties posts $27.5m net loss
Damac Properties, the Dubai-based developer, posted a net loss of $27.5 percent for the second quarter as compared to the loss of $77 million during the same period last year.
