The combined second quarter net income of the four largest banks in Saudi Arabia rose year over year to 7.70 billion riyals from 6.72 billion riyals, according to S&P Global Market Intelligence data.
National Commercial Bank, Al Rajhi Banking & Investment Corp. and Riyad Bank all reported year-over-year increases in their second quarter net profit, while Samba Financial Group's net profit for the period fell on a yearly basis.
The four banks' combined net interest income for the quarter was 11.30 billion riyals, up from 10.30 billion riyals in the year-ago period, while their combined net fees and commissions ticked up on a yearly basis to 2.15 billion riyals from 2.01 billion riyals.
The lenders also booked combined operating expenses of 4.77 billion riyals in the period, up from 4.54 billion riyals a year ago, while their combined asset write-downs rose year over year to 1.36 billion riyals from 1.01 billion riyals.

As of Aug. 21, US$1 was equivalent to 3.75 Saudi Arabian riyals.
