Profits of Saudi Arabia’s 12 banks rose by 7.8 percent in the first nine months of the current year to SR29 billion compared to SR27 billion in the same period last year, local media said.

Capital of 11 listed banks stand at SR98 billion whereas their market capitalization is valued at SR374 billion, or 23 percent of the Saudi stock market’s value, the report, filed by Al-Hayat daily, said.

The capital of the non-listed National Commercial Bank (NCB) alone stands at SR15 billion, it said.

Capital of the listed Al-Rajhi Bank, Riyad Bank, and Alinma Bank are the biggest at SR15 billion for each whereas Bank AlJazira and Bank Albilad have the lowest capital at SR3 billion and SR 4 billion, respectively, the report said.

Profits of the NCB were the highest in the said period which rose by 20 percent to SR6.05 billion compared to SR5.04 billion, followed by Al-Rajhi Bank whose profits stood at SR5.89 billion compared to SR5.97 billion, a decrease of 1.39 percent.

The NCB attributed its profits jump to the growth of financing and investment products and income generated from bank service fees whereas al-Rajhi attributed decline of profits to the rise of operating expenses, the report said.

Likewise, net profits of Samba Financial Group rose by 1.18 percent to SR3.50 billion compared to SR 3.46 billion in the same period last year. Riyad Bank posted SR 2.91 billion in profits in nine months compared to SR2.65 billion, or an increase of 9.83 percent.

Earnings per share (EPS) for Samba Financial Group and Riyad Bank rose to SR3.89 and SR1.94 compared to SR3.85 and SR1.77 respectively, the report said.

Meanwhile, profits of Saudi British Bank (SABB) grew by 15.38 percent to SR2.79 billion compared to SR2.42 billion thus pushing its EPS rise to SR2.8 from SR2.4.

On the other hand, profits of Banque Saudi Fransi (BSF) dropped by 3.44 percent to SR2.13 billion compared to SR2.20 billion. Arab National Bank (ANB) posted profits of SR1.98bn compared to SR1.94 billion, or increase of 2.04 percent, and, accordingly, its EPS rose to SR2.34 from SR 2.29, the report said.

Profits of Saudi Hollandi Bank (SHB) rose by 22.85 percent to SR1.15 billion compared to SR939.6 million in the same period last year and its EPS rose to SR2.91 against SR2.37.

Similarly, profits of the Saudi Investment Bank (SIB) rose remarkably by 44.07 percent to reach SR960.1 million compared to SR666.4 million thus sending EPS to higher record of SR1.75 from SR1.21. Rise in profits was reportedly attributed to high operating income and decrease of operating expenses, the report said.

Net profits of Alinma Bank grew to SR725 million from SR526 million, or an increase of 37.83 percent. Its EPS jumped to SR0.49 compared to SR0.35 in the same period last year.

Bank Albiland’s profits substantially dropped by 34.34 percent to SR515.5 million from the last year’s profits of SR785.1 million whereas net profits of Bank AlJazira rose by 24.07 percent to SR500 million compared to SR403 million, the report said.