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.
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.
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.