The operating income of 12 listed banks in Saudi Arabia jumped 6.5 percent year-on-year (YoY) to SAR 22.7 billion in Q4 2018 from SAR 21.3 billion in Q4 2017, noted a report by Aljazira Capital on Thursday.
Retail income accounted for 47.1 percent of the total operating income in Q4 2018 compared with 45.7 percent in Q4 2017, registering an increase of 9.8 percent YoY, the report added.
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The corporate sector’s contribution rose to 31.8 percent in Q4 2018 from 31.1 percent in Q4 2017. Earnings from the corporate sector stood at SAR 7.2 billion (up 8.8 percent YoY).
Treasury income rose 0.2 percent YoY to SAR 3.7 billion, whereas investment income decreased 7.3 percent YoY to SAR 1.17 billion.
NCB, with an operating income of SAR 4.7 billion, contributed 20.9 percent to total sector earnings in Q4 2018, followed by Al Rajhi’s contribution of 19.8 percent with earnings of SAR 4.5 billion, the report by Aljazira Capital added.
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