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Saudi bank deposits up 14% by November 2013

According to figures from the Saudi Arabian Monetary Agency (SAMA), profits of commercial banks in the kingdom jumped 9.1% year-on-year to SR34.1bn in the first 11 months of 2013, Arab News has reported. Meanwhile, total reserves of the banks grew by 17.4% to SR114.8bn in November, while their capital climbed 0.9% to SR113bn in the comparable periods. Total deposits rose 14% to SR1.37trn in November 2013 from SR1.2trn in November 2012, the report said.