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  "documentTitle": "Saudi Arabia Banking Pulse Quarter 3, 2022",
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      "text": "The banks witnessed robust growth in profitability as net profit increased 9.3% QoQ resulting in a RoE of 14.8% in Q3'22 (+1.3% points QoQ).",
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      "text": "Disclaimer: The information contained in this document is of a general nature and has been obtained from publicly available information plus market insights. The information is not intended to address the specific circumstances of an individual or institution. There is no guarantee that the information is accurate at the date received by the recipient or that it will be accurate in the future. All parties should seek appropriate professional advice to analyze their particular situation before acting on any of the information contained herein. The growth figures for all the line items are on a quarterly basis (QoQ)",
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      "text": "The banks witnessed robust growth in profitability as net profit increased 9.3% QoQ resulting in a RoE of 14.8% in Q3'22 (+1.3% points QoQ). Further, RoA improved 12bps QoQ as net profit grew faster than the underlying average asset base (+2.8% QoQ).",
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      "kind": "paragraph",
      "text": "We hope that you will find our latest edition of the KSA Banking Pulse useful and informative.",
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      "text": "Alvarez & Marsal Middle East Limited (A&M) is delighted to publish the Q3'22 edition of the Kingdom of Saudi Arabia (KSA) Banking Pulse (\"The Pulse-KSA\"). In this quarterly series, we share results from our research examining the top ten listed KSA banks by assets and highlight key performance indicators of the KSA banking industry. The Pulse aims to help banking executives and board members stay current on industry trends.",
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      "text": "During Q3'22, L&A and deposits increased by 2.9% and 0.2% QoQ, respectively. Operating income increased by 4.9% QoQ, primarily driven by growth in total interest income (+15.9% QoQ). The sector continued to see improvement in cost efficiency with decline in cost-to-income ratio by 0.9% points QoQ in Q3'22. Cost of risk declined by 9bps QoQ to 0.4% due to reduction in impairment charges (-15.4% QoQ).",
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      "text": "In terms of asset quality, NPL / Net Loan ratio improved from 1.6% in Q2'22 to 1.5% in Q3'22 while coverage ratio declined to 152.0% (-2.7% points QoQ).",
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