The assets of Saudi banks rose by 1.4 percent until February on a monthly basis, amounting to 3008 billion riyals ($802.1 billion). Whereas, the bank assets amounted to 2,967.6 billion riyals ($791.3 billion) until the end of the previous January.
The monthly statistics of the Central Bank showed that customer deposits increased by 1.8 percent until the end of last month, amounting to 1956.9 billion riyals ($521.9 billion). While bank loans rose by 1.6 percent, to 1836.9 billion riyals (489.8 billion dollars).
The Saudi banking sector includes 11 local banks listed on the Saudi Stock Exchange, and branches of 15 foreign banks. The profits of the Saudi banks listed on the local stock exchange (11 banks), had fallen during the last year that witnessed the "Corona" pandemic, by 23.9 percent, down to 34.6 billion riyals (9.23 billion dollars).
The profits have been affected by the global outbreak of the Coronavirus and the curfew in the country that has halted most economic activities, and the demand for financing, in addition to the government's delay in paying installments on loans to companies and individuals.
Source (Anadolu Agency, Edited)
