Banks in Saudi Arabia reported an aggregate profit of SR7.43 billion ($1.98 billion) in March, up 23.2 percent compared to the same month in the previous year, the latest data from the Saudi Central Bank showed.
According to the SAMA report, the aggregate assets of banks operating in Saudi Arabia also went up by 11.17 percent year-on-year to SR3.74 trillion in March.
SAMA, in its monthly statistical bulletin, covers the results of Tadawul-listed banks and some foreign banks operating in Saudi Arabia.
The report further noted that combined deposits in these banks also rose by 11 percent year-on-year in March to SR2.40 trillion.
The SAMA report revealed that loans given to private entities in the Kingdom rose by over 10 percent year-on-year to SR2.35 trillion by the end of March, indicating a growth in the non-oil private sector.