Profits of Saudi banks increased in 2022 by 28% to reach 62.5 billion riyals, and as Okaz newspaper monitored in a report last August about the profits of Saudi banks, the title of that report was “Saudi banks earn 7.7 million riyals per hour!”
This information heralds that our national economy is moving in the right direction despite the economic crises that the world is going through, and of course the banking sector is the mainstay of this sector, and since the beginning of the establishment of banks in the Kingdom, they have been making profits and few of them or rare cases have experienced shocks and losses, and all this is due to the strength and rigor of the systems that it puts in place It is applied by the Central Bank of Saudi Arabia. As for the profits of Saudi banks, they increase and increase every year, and we do not envy them for that, as they are first and foremost national economic entities that are important to the national economy in general, and the banking sector is one of the first entities to introduce and use information technology in banking operations, and we have reached that managing accounts in all its branches is done through technology remotely, and the need to visit branches of Saudi banks has decreased.
Millions and hourly profits that reach 8 million per hour and increase with every passing minute, “and the hour is five pounds, and the account is calculated.” With this continuous profit of Saudi banks by the minute and the second, we have the right to put forward some demands from them, especially since we no longer hear or see employment advertisements for Saudi cadres in them like what It was in the past, and technology and its employment in banks may have a role in the lack of reliance on the human element in some banking services and businesses, or because the banks themselves are no longer employed directly, as they resort to human resource companies that sign contracts with them and bring in employees who are often less than the salaries of employees It is easier for banks to dismiss them and get rid of them in the event that they are not needed, without problems and financial benefits that banks think are burdening them, and the billion figures speak volumes, and the strange thing is that even the salaries of the bank employee contracting with the bank directly are not what they were in the past. We all remember the high salaries of employees of the banking sector in the Kingdom compared to the government sector or private sector companies. Bank employees were at the top of the list in terms of remunerative salaries, health insurance, training at home and abroad, and so on. But what I am raising here is the importance of employing young Saudi cadres in our national banks at a faster pace. And stronger, its employees number about 62,000 bank employees in this sector.
With this growth and the economic boom that the Kingdom is now experiencing, the private sector and the Ministry of Human Resources must pay attention to employing national cadres in the leading sectors of the national economy, especially the banking sector. We no longer hear decisions and plans that oblige banks to employ local cadres. It is true that the sectors that attract employment have become more diversified. And change, banks do not necessarily have to be at the top of the summit, but we hope that this sector will be one of the attractive agencies for employment at all job levels in our local banks, and the salaries and entitlements of their employees will be as abundant as a percentage of the executives in these financial institutions that reach billions annually.
The mind of the mind