Saudi CMA: Capital Market institutions hit a record in 2022

Saudi CMA: Capital Market institutions hit a record in 2022

Riyadh,: The Deputy of Market Institutions at the Capital Market Authority (CMA), Bander Sulaiman Alayed, announced that capital market institutions authorized by the CMA achieved a net income of SAR 6.1 billion, marking a historic increase of 29.8% by the end of 2022 compared to SAR 4.7 billion in 2021. This significant leap was accomplished while the CMA continued to implement its comprehensive development plan in close collaboration with the capital market system.

Alayed highlighted that the CMA's role in regulating market institutions is to establish rules and guidelines that ensure investor protection and hold institutions accountable for their responsibilities. This exemplifies the crucial and effective role played by capital market institutions in the Saudi financial sector, which is of great importance within the framework of the Kingdom's Vision 2030.

Furthermore, Alayed noted that retained profits in capital market institutions reached a record high of SAR 60.34 billion, a remarkable increase of 39.17% by the end of 2022 compared to SAR 43.36 billion in 2021.

The profits of capital market institutions experienced a significant surge due to a 26% increase in revenues in 2022, exceeding SAR 12 billion, the highest recorded in the history of these institutions. Asset management revenues constituted the largest