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Friday, Oct 07, 2022

Saudi banking assets exceed SR3.5 trillion for first time

Saudi banking assets exceed SR3.5 trillion for first time

As of the end of June this year, the total assets of commercial banks in Saudi Arabia have exceeded the level of SR3.5 trillion for the first time. This figure marked an annual increase of SR414.9 billion (13.32 percent) in the value of assets while compared to the same period of the year 2021 when the assets stood at about SR3.11 trillion, according to monitoring of a banking report by Okaz/Saudi Gazette.
The report showed that the cash in the banking fund accounted for about SR25.17 billion while bank reserves that are classified as regular deposits amounted to SR130.37 billion. The value of current deposits amounted to SR611 billion while other deposits accounted for SR103.44 billion. As for foreign assets, they rose to SR279.36 billion, an increase of 11.21 percent during the whole year, with an increase in foreign assets equivalent to SR28.15 billion.

It was revealed in the monitoring that the liabilities from the private sector exceeded the levels of SR2.2 trillion for the first time and this marked an increase of 14.08 percent, after the value of liabilities from the private sector was about SR1.93 trillion a year ago.

At the same time, the liabilities from government and semi-government agencies recorded an increase, reaching SR594.72 billion, with an increase of SR56.96 billion (over 10 percent) in the amount of liabilities from the government sector alone within one year.
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