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KPMG Saudi Arabia
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http://www.kpmg.com.sa
KPMG Saudi Arabia
KPMG in Saudi Arabia is established through its member firm KPMG Al Fozan & Partners. The firm has operated in the Kingdom of Saudi Arabia since 1992. This early commitment to the Saudi Arabian market, together with our unwavering focus on quality, has been the foundation of our accumulated industry experience, and is reflected in our appointment by some of the Kingdom’s most prestigious companies. As Saudi Arabian businesses join the global economy and international companies seek to enter the Saudi market, KPMG’s blend of international expertise and local knowledge makes us well positioned to serve our clients in this increasingly complex, but exciting market. KPMG operates through a national leadership with dedicated regional teams, which enable our network of professional talent, our technologies and our products and solutions to quickly come together to meet clients’ needs. KPMG has made a significant investment in Saudi Arabia over the last 5 years with a number of professional staff being seconded to the local firm from across the global network. The firm has grown to be one of the largest professional service providers in the Kingdom. During the last few years the firm has achieved record growth reaching our current workforce of more than 675 people across the Kingdom, based out of three offices in Riyadh, Jeddah and Al Khobar.
Global News

Despite increase in cost of funds and liquidity constraints, Saudi banking industry reported robust growth in 2022

With the global banking industry making headlines in the past weeks, the Saudi banking sector published its annual results for 2022. According to KPMG, a leading provider of audit, tax and advisory services, in its annual market update, the consolidated numbers for the ten Tadawul-listed banks reflect a robust performance, particularly indicating an increase in net profit by 28%, reaching SAR 62.71 billion ($16.7 billion). The growth trajectory is expected to continue on account of consistent demand for public and private sector financing and the availability of non-interest-bearing deposits.