Riyadh: Deposits held by banks operating in Saudi Arabia grew by SAR 151.53 billion or 8.9% year-on-year (YoY) to SAR 1.843 trillion during the second quarter (Q2) of 2020 from SAR 1.691 trillion.

Meanwhile, the value of demand deposits, which accounted for 66.01% of total deposits, increased by SAR 144.35 billion or 13.5% to SAR 1.217 trillion in the April-June period from SAR 1.072 trillion in the corresponding period in 2019, the Saudi Arabian Monetary Authority (SAMA) said.

Time and savings deposits rose by 1.4% to SAR 443.49 billion in Q2-20 from SAR ­437.18 billion in Q2-19.

Moreover, quasi-monetary deposits amounted to SAR 182.85 billion in the three-month period ended on 30 June, up by 0.47% YoY from SAR 181.98 billion.

Quarter-on-quarter (QoQ), the kingdom’s bank deposits increased by SAR 32.49 billion or 1.8% from SAR 1.810 trillion in Q1-20.

Over the first half (H1) of 2020, the bank deposits levelled up by SAR 46.99 billion or 2.6% from SAR 1.796 trillion in H1-19.

Bank credit

The kingdom’s banks exceeded the maximum 90% loan-to-deposit ratio, registering 90.72% during the April-June period.

The bank credit increased by SAR 194.91 billion or 13.2% during Q2-20 to SAR 1.672 trillion from SAR 1.477 trillion in Q2-19.

The long-term credit increased by 35.5% to SAR 712.01 billion, while the mid-term credit rose by 6.7% to SAR 243.3 billion.

On the other hand, the short-term credit fell by 0.9% to SAR 716.66 billion.

QoQ, the bank credit rose by 2.3% from SAR 1.633 trillion in Q1-20.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.