Saudi banks’ investments in gov’t bonds down 4.6% in H1-20

Total bank investments in Saudi bonds hiked by 21.7% YoY

  
Saudi issues $7.5 billion in international bonds in January 2019. Image used for illustrative purpose.

Saudi issues $7.5 billion in international bonds in January 2019. Image used for illustrative purpose.

Getty Images/ Mohd Kafii Isa / EyeEm

Riyadh – Mubasher: Saudi banks have lowered their purchases of government bonds during the first half (H1) of 2020 by 4.6% year-on-year (YoY) or SAR 2.17 billion.

The Saudi lenders' investments in government bonds amounted to more than SAR 44.5 billion in the period ended on 30 June 2020, according to data collected by Mubasher based on official figures by the Saudi Arabian Monetary Authority (SAMA).

Total bank investments in Saudi bonds hiked by 21.7% YoY or SAR 76.35 billion by the end of the second quarter (Q2) of the year to stand at SAR 428.2 billion.

By the end of H1-20, bank investments in government bonds surged by 11.6% on a yearly basis when compared to their level seen at the end of 2019 at SAR 383.67 billion.

In Q2-20, Saudi lenders bought SAR 20.08 billion worth of bonds, an increase of 4.9% when compared to SAR 408.12 billion registered at the end of Q1-20.

In June, banks purchased bonds worth SAR 8.09 billion, up 1.9% when compared to the previous month.

Source: Mubasher

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