Saudi banks to invest 200M riyals in financial literacy

Saudi banks experienced a 7.6% increase in their profits during the first quarter of the current year, reaching 23.95 billion riyals. Their loan portfolios grew by 7.7% for the first time in five years, despite rising interest rates and tighter lending standards. Additionally, the banks have contributed over 200 million riyals since the establishment of the Banking Media and Awareness Committee 20 years ago, aiming to boost financial literacy and reduce scams, through the launch of campaigns and initiatives to promote a culture of saving and investing.

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