Foreign deposits at Saudi banks reached SAR 158.8 billion at the end of the third quarter of this year, registering a rise for the second consecutive quarter.
Foreign deposits rose by 23.5 percent to SAR 30.26 billion at the end of the third quarter of 2018 compared to the same period last year of SAR 128.5 billion.
According to the Saudi Arabian Monetary Agency (SAMA), foreign deposits recorded the highest level in 27 months, particularly since June 2016, amounting to about 160.8 billion riyals. At the end of the third quarter of 2018, foreign deposits accounted for 9.71 percent of total bank deposits, accounting for 8.02 percent at the end of the same period last year, an increase of 169 basis points.
At the end of September, foreign currency deposits at banks operating in Saudi Arabia grew by 12.2 percent, or 17.27 billion riyals, compared with the previous month of August, marking the highest monthly growth in more than a year.
Source: (Al-Arabiya.net, Edited)
