DUBAI: Saudi National Bank reported a 20 percent rise in first quarter net profit to SR3.41 billion ($907.6 million) compared to a year earlier.
The bank said profits were driven by stronger total operating income and lower expenses including impairments.
Total operating income gained 8.8 percent from a year earlier, it said. At the same time, total operating expenses including impairments fell 8.9 percent mainly due to lower salaries and employee-related expenses.
Overall net impairment charges for expected credit losses fell by 29 percent to SR280 million.
Saudi National Bank (SNB) officially came into being in March with the formal approval by shareholders of the merger between National Commercial Bank (NCB) and Samba Financial Group (Samba).
The new lender was heralded as the national champion of the Kingdom’s banking industry –tasked not only with delivering shareholder value but also financing economic development, supporting Vision 2030 projects, and facilitating trade and capital flows with the region and the rest of the world.
Saudi National Bank profits jump 20%
https://arab.news/wty26
Saudi National Bank profits jump 20%
- The bank said profits were driven by stronger total operating income and lower expenses including impairments
Saudi stock market opens its doors to foreign investors
RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.
The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.
According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.
International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.
“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”
In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country.
This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.
Saudi Arabia, which is more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.
