Arab Bank’s profit for first 9 months up nearly 50% on higher interest, loans
Arab Bank Group’s profits have jumped by nearly 50% on the back of higher interest and commission income, as well as loans and deposits. The bank’s net income after tax reached $405.8 million for the first nine months of the year, up by 49% from the $271.7 million recorded in the same period last year. […]
Mortgage lending in Saudi Arabia softens further after rate hikes
Mortgage lending in Saudi Arabia, a key component of the kingdom’s total bank credit to the private sector, softened further in September as higher interest rates caused demand to stutter. Residential mortgage loans provided by Saudi Arabia’s commercial banks fell to 9.9 billion royals ($2.64 billion) from SAR12.7 billion in August, new data issued by […]
Saudi Q3 GDP grows 8.6% y/y – flash estimates
Saudi Arabia’s gross domestic product expanded by 8.6% in the third quarter compared with the same period in 2021, according to initial government estimates on Monday, as the world’s top oil exporter benefits from higher energy prices. Growth was largely driven by a 14.5% increase in oil activities, the General Authority for Statistics […]
Arab Bank Group profits up 49% to $405.8mln
Arab Bank Group delivered strong financial performance in the first nine months of this year, reporting a net income after tax of $405.8 million as compared to $271.7 million for the same period last year, an increase of 49%. The group’s core banking activities kept up the momentum in most areas of operations […]