Saudi banks’ investments in government bonds jump 15.45% in January

Total banks’ investments in Saudi bonds reached $119.05bln by the end of January 2021

  
A Saudi money changer counts U.S banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016.

A Saudi money changer counts U.S banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016.

REUTERS/Faisal Al Nasser

Riyadh – Banks operating in Saudi Arabia have raised their investments in government-issued bonds by 15.45% annually in January 2021, equivalent to SAR 59.76 billion.

Total banks’ investments in Saudi bonds reached SAR 446.45 billion by the end of January 2021, compared with SAR 386.69 billion in the same month in 2020, according to data from the Saudi Central Bank (SAMA).

Moreover, Saudi banks bought SAR 8.08 billion worth of bonds in January 2021, up by 1.8% from a month earlier.

In 2020, banks in the Gulf country hiked their investments in government bonds by 14.69% yearly or SAR 56.34 billion.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 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.

More From Financial Services