The nine banks logged SAR 46.27 billion in net profits, after zakat and taxes, in 2018, out of the total SAR 49.97 billion net profits reported by the Saudi banking sector.
Al Rajhi Bank topped Saudi lenders in terms of 2018 dividends with SAR 4.25 per share, or 42.5% of the share’s nominal value, with a total value of SAR 6.91 billion distributed over 1.63 billion shares.
Al Rajhi Bank’s capital reaches SAR 16.25 billion, while it logged a net profit of SAR 10.29 billion in 2018.
National Commercial Bank (NCB) came in at the second place with cash dividends of SAR 2.10 per share, or 21% of the bank’s capital amounting to SAR 30 billion.
NCB approved dividends worth SAR 6.28 billion in 2018 for 2.99 billion shares.
It is noteworthy that NCB’s profits reported SAR 10.67 billion last year, registering the highest gains among Saudi listed lenders.
In addition, cash dividends of the Saudi British Bank (SABB), Samba Financial Group, Banque Saudi Fransi, Arab National Bank, Alinma Bank, Riyad Bank, and Bank Aljazira totalled SAR 2.94 billion, SAR 4.23 billion, SAR 2.03 billion, SAR 1.50 billion, SAR 1.49 billion, SAR 2.31 billion, and SAR 0.41 billion, respectively.
Meanwhile, Alawwal Bank decided not to distribute cash dividends for 2018, in line with the merger agreement with SABB.
Bank Albilad and Saudi Investment Bank have not announced yet the distribution of cash dividends for 2018.
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