Six Saudi lenders reported a combined net profit of SR19.83 billion ($5.29 billion) for the third quarter, an increase of 5.3 percent from a year earlier, according to data analysed by Arab News from financial results published on the Saudi Exchange.
Higher financing income supported earnings, even as some banks faced rising costs, the analysis showed. The results mark a positive start to the sector's third-quarter earnings season, with more lenders yet to report their financial results.