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FINANCIAL NEWS
Saudi Arabia 2012 daily earnings at USD950m: NCB
06 Jun 2013
(MENAFN) Saudi Arabia’s largest bank, National Commercial Bank (NCB) stated that the kingdom earned an astonishing USD950 million a day last year, reported Emirates 24/7.
NCB also said that the figure was the Gulf state’s highest current price crude export earnings since it became one of the world’s biggest oil giants more than 70 years ago.
The bank’s report showed that Saudi saw a surge in income in 2012 when it amounted to USD347.6 billion. The income hike helped Saudi’s nominal GDP reach an all time high of USD727 billion.
NCB also stated that the country’s net foreign assets climbed to a record USD648.5 billion at the end of last year, up from USD535.9 billion year on year.
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