1.3 billion dollars in profits from “Al-Ahly Saudi” in the first quarter

The National Bank of Saudi Arabia said in a statement published on the “Tadawul” website that the reason for the increase in profits in the current quarter compared to the same quarter of the previous year is due to:

Net profit attributable to equity increased by 12% to 5 billion riyals due to an increase in total operating profit. Total operating income increased by 8% to reach 8.7 billion riyals due to an increase in net income from special commissions / financing and investments due to the increase in profit margin, in addition to the expansion of financing and investment portfolios. The stability of total operating expenses before the net provision for impairment of expected credit losses led to an improvement in the operating expense/revenue ratio. The net provision for impairment of expected credit losses in the current period was 493 million Saudi riyals, compared to 386 million Saudi riyals for the same period of the previous year, an increase of 28% .

The bank’s data showed a rise in total special fee/financing and investment revenue by 58.5% to 11.12 billion riyals, from the 7 billion it recorded in the corresponding quarter of 2022.

Read the Latest World News Today on The Eastern Herald.

More

Show your support if you like our work.

Author

Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Comments

Editor's Picks

Trending Stories

Daisy Drew viral videos: What fuels leaked searches online

Daisy Drew viral videos have become the spark behind...

Malaysia to host historic 47th ASEAN summit with world leaders

KUALA LUMPUR — The corridors of Malaysia’s Putrajaya Convention...

Prostitution in Dubai: Understanding the Dark Side of the City

Dubai, a city celebrated for its lavish shopping experiences,...

Daisy Drew fans: Who searches Daisy Drew nude and leaked content

Daisy Drew fans are not passive viewers—they are the...