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Saudi banks see drop in profits

Saudi commercial banks saw profits…

December 28, 2009 4:34 by

Saudi commercial banks saw profits falling 12.6 percent during the October-November period, according to Saudi Arabian Monetary Agency (Sama), reports Arabian Business.The banks made a cumulative profit of SR3.94 billion ($1.05 billion) during the period, according to Sama.

In the first quarter of the year, Saudi banks saw cumulative profits of SR8.25 billion, during the second quarter, SR7.92 billion and during the third quarter, SR7.05 billion, said Sama.

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