The financial results of banks listed in Saudi Arabia’s stock market (Tadawul) signal an improvement in the banks’ monetary status at the end of the first half of the current year.
Notably, the assets of listed Saudi banks edged up by 7.9 per cent to a massive SAR2.17 trillion from SAR2.01trn, according to data by Al-Riyadh paper.
The data indicates that all listed banks have shown improvement in their assets. Al-Bilad Bank reported the largest increase in assets with 19.9 per cent while the Banque Saudi Fransi was the least growing in terms of assets’ build-up, with a growth value of only 0.9 per cent.
The value of investments by listed banks grew by 1.6 per cent reaching SAR504 billion from SAR496bn, but there was some sort of fluctuation in the value of investments by listed banks.
While the Riyad Bank, the Saudi Investment Bank, the Saudi British Bank, the Arab National Bank, Al-Rajhi Bank and Al Inma Bank reported upticks in their investments, other banks including Al-Jazira Bank, Banque Saudi Fransi, SAMBA Bank and the National Commercial Bank (Al-Ahli) reported a drop in the value of their investments.
The value of loans that banks extended in the six-month period increased by 8.7 per cent to SAR1.32trn from SAR1.22trn. Deposits picked up by 8.2 per cent to SAR1.69trn.
(SAR1 = AED0.97, at the time of publishing)