SAMA
May 2, 2023

SAMA reports that Saudi Arabia’s banks collectively recorded a 23% increase in profits to $1.98 billion in March.

The report highlights that the SAMA’s investments in foreign securities declined by more than 8% year-on-year in March to around SR1.02 trillion.

Fitch Ratings
April 18, 2023

The long-term issuer default ratings of eight Saudi banks have been upgraded to ‘A-‘ by Fitch.

Fitch Ratings has upgraded the long-term issuer default ratings of eight Saudi banks to ‘A-‘ in recognition of the resilience and strength that the banking sector has demonstrated during the COVID-19 pandemic.