Saudi inflation rises 2.9% year-on-year in November: GASTAT report

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,…