Saudi Electricity Co. signs contracts worth $720m to implement smart grid projects 

RIYADH: The performance of banks in Saudi Arabia remained robust during the nine months of 2022 highlighted by an increase in net profit by 26.21 percent year-on-year, to SR46.41 billion ($12.3 billion), according to a KPMG report.

KPMG, a leading provider of audit, tax and advisory services in Saudi Arabia, said banks in the Kingdom are likely to continue prioritizing their liquidity demands for the coming year despite enhanced earnings,…