Deposits in Saudi banks rise 151 billion riyals in the second quarter … and an increase in credit

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Riyadh – Mr. Jamal: Banking deposits in the Saudi banking sector recorded an growth of about 8.9% at the end of the second quarter of 2020 on an annual basis, an increase of 151.53 billion riyals over the corresponding period of last year, while the credit recorded a remarkable growth, according to a statistics prepared by ” direct”.

The total deposits, according to SAMA data, reached 1.843 trillion riyals, compared to 1.691 trillion riyals at the end of the second quarter of 2019.

The rise in deposits in the banking sector; With the increase in the value of demand deposits (accounting for 66.01% of total deposits in the Kingdom) by 13.5% on an annual basis, and an increase of 144.35 billion riyals over the end of the second quarter of last year and ending in the end of June.

Total demand deposits reached 1.217 trillion riyals at the end of the second quarter of 2020, compared to 1.072 trillion riyals at the end of the second quarter of 2019.

Time and savings deposits also increased by 1.4%, to reach 443.49 billion riyals in the second quarter of 2020, compared to 437.18 billion riyals in the same quarter of last year.

The value of other semi-cash deposits amounted to 182.85 billion riyals, compared to 181.98 billion riyals at the end of the second quarter of last year, an increase of 0.47%.

On a quarterly basis, deposits in the Saudi banking sector increased by 1.8% during the second quarter, an increase of 32.49 billion riyals from the previous quarter (the first quarter of 2020), which amounted to 1.810 trillion riyals.

Deposits in the banking sector in the Kingdom increased by 46.99 billion riyals during the first half of 2020, compared to its value at the end of the year of 1.796 trillion riyals, an increase of 2.6%.

Deposits decreased 1% during the month of June, on a monthly basis, to reach 1.843 trillion riyals, compared to 1.862 trillion riyals at the end of May.

Lending exceeds the limit

With regard to bank credit with banks in the Kingdom, it increased by 13.2% at the end of the second quarter of 2020 on an annual basis, an increase of 194.91 billion riyals from the same period last year, so that the lending limits exceed the allowable limit for total deposits.

Total credit amounted to 1.672 trillion riyals, up from 1.477 trillion riyals at the end of the second quarter of 2019.

The volume of credit increased with the increase in long-term credit 35.5% to 712.01 billion riyals, compared to 525.5 billion riyals at the end of the second quarter of last year.

Likewise, medium-term credit rose 6.7% to 243.3 billion riyals at the end of the second quarter of 2020, compared to 228.06 billion riyals at the end of the same quarter last year.

Meanwhile, short-term credit declined to 716.66 billion riyals, compared to 723.5 billion riyals in the second quarter of 2019, a decrease of 0.9%.

Credit rose 2.3% compared to the previous quarter, which amounted to 1.633 trillion riyals.

It increased 1.5% at the end of June to 1.672 trillion riyals, up from 1.648 trillion riyals in May.

The bank credit ratio in the Kingdom of Saudi Arabia exceeded the 90% of the total bank deposits, to reach 90.72% by the end of the second quarter of 2020, knowing that the Saudi Arabian Monetary Agency set the ceiling for lending to deposits at 90%.

The bank credit ratio for deposits reached 90.24% at the end of the first quarter of 2020.

And the governor of the Saudi Arabian Monetary Agency “SAMA”, Ahmed Al-Khulaifi, revealed last June that 3 Saudi banks exceeded the loan-to-deposit ratio of 90% with simple limits.

Nominations:

155.9 billion riyals of sales points in Saudi Arabia in the first half of 2020

Expatriate remittances in Saudi Arabia rise to $ 18.5 billion during the first half

Sama: Saudi Arabia’s foreign reserves fell to 447 billion dollars by the end of June

Saudi “Sama” assets rise to 1.8 trillion riyals by the end of June

Saudi Arabia: 243 billion riyals, the total expenses for the second quarter

9.8 Billion dollar Saudi Arabia Gulf trade in the first 5 months of 2020



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