|01 September, 2019

Saudi banks’ investments in government bonds grow 25% in July: SAMA

Saudi banks’ holdings of government bonds jumped to SAR 358.53 billion in July

Saudi Arabian currency. Image used for illustrative purpose.

Saudi Arabian currency. Image used for illustrative purpose.

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Riyadh – Mubasher: Saudi banks increased their government bond holdings by 25.08%, or SAR 71.88 billion, year-on-year in July.

Saudi banks’ holdings of government bonds jumped to SAR 358.53 billion in July, compared to SAR 286.65 billion in the corresponding month a year earlier, according to recent data released by the Saudi Arabian Monetary Authority (SAMA).

Moreover, the kingdom plans to issue bonds worth SAR 118 billion during full-year 2019 in a bid to finance the budget deficit.

Source: Mubasher

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