Saudi Arabia’s capital market institutions witnessed a 27 percent year-on-year surge in operating income during Q2 2024, reaching SR4.1 billion ($1.1 billion), according to the Capital Market Authority. The top performer was asset management, generating SR1.28 billion, up 22 percent from the previous year, and comprising 31 percent of the total income.
Investments followed with a 30 percent share at SR1.21 billion, though this reflected a 15 percent drop from 2023. Dealing activities contributed SR603.67 million, showing a 22 percent rise year-on-year, while investment-banking revenues soared by 66 percent to SR406.18 million.
However, combined net profit dipped 3 percent to SR2.05 billion, largely due to a rise in non-operating expenses. The Saudi market led with SR900.35 billion traded, accounting for 94 percent of the total.
Total assets climbed 29 percent to SR73.25 billion, while liabilities surged 68.73 percent to SR27.79 billion. Shareholders’ equity grew by 13 percent to SR45.42 billion.
The Saudi stock exchange has become the world’s 10th largest by market capitalization, driven by Vision 2030 reforms, growing foreign investment, and strong market resilience amid global challenges.