The Saudi Stock Exchange (Tadawul) said that S&P Dow Jones Indices (S&P DJI), a leading provider of global equity indices, upgraded Saudi Arabia to "Emerging Market" from its previous "Standalone Market" country classification. This came as Saudi banks have shown profits growth in the first half of the year, with average exceeding 10 percent. Saudi banks outcomes achieved during the first half of 2018 a total profits amounting to SAR24.6 billion (USD6.56 billion) while most of the listed banks announced growth in profits. Alinma Bank profitability reached 32.8 percent, the greatest growing bank in terms of profitability. While Banque Saudi Fransi announced a 3 percent slight drop in profits during the same period, unlike all other banks. The Kingdom will become eligible for inclusion in certain S&P DJIs global benchmark index families in two phases concurring with the March 2019 quarterly re-balancing and the September 2019 annual reconstitution. Saudi stocks that are currently part of the S&P Saudi Arabia BMI will initially be eligible for phased inclusion in the S&P Global BMI, S&P Global BMI Shariah, S&P/IFCI Composite, Dow Jones Global Index and Dow Jones Islamic Market World Index. Eligibility for inclusion in other S&P DJI index families will begin in September 2019. Riyad Bank announced a growth of 16 percent in the first half of the year compared to the same period of 2017. Samba Financial Group and Arab National Bank revealed an 8.1 percent and 7.3 percent growth, relatively. The kingdom has introduced during the past period a group of key steps to develop the financial market and to increase the opportunities of listing among the global market indices. Earlier, Saudi Arabia decided to ease restrictions for foreign capitals in addition to applying the international accountability standards. Capital Markets Authority of Saudi Arabia is working with individual investors and investment funds in the local market in which CMA submits draft bills ahead of investors for voting.