Saudi Tadawul Group, the owner and operator of the kingdom’s stock exchange, reported a 59 percent jump in 2024 profit, as annual trading value and listing services revenues rose by 38 percent and 27 percent, respectively.
Net profit was SAR622 million ($166 million) compared to SAR390 million in 2023, the company said in a bourse filing on Sunday.
The average daily traded value reached SAR7.5 billion last year and 58 new securities were listed, taking the total to 353, the company said.
The Saudi’s bourse capitalisation reached $10 trillion in 2024, the company said.
Operating revenue rose 35 percent year on year to SAR1.5 billion in 2024, driven by increased trading services and post-trade services revenues.
Operating expenses increased 18 percent year on year to SAR880 million in 2024, primarily due to the consolidation of Direct Financial Network financials and rise in workforce costs.
“Our strategic focus on diversification and innovation drove growth, expanded our range of financial products, and significantly enhanced our post-trade infrastructure,” said CEO Khalid Al-Hussan.
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