|19 August, 2019

Saudi banks’ assets hit $622bln in Q2

Assets of Saudi-listed banks reached SAR 2.33 trillion in Q2-19

Image used for illustrative purpose. A trader monitors stocks at a Saudi Bank in Dammam October 26, 2008.

Image used for illustrative purpose. A trader monitors stocks at a Saudi Bank in Dammam October 26, 2008.

REUTERS/Stringer

Riyadh – Mubasher: Total assets of banks operating in Saudi Arabia increased by 8.65% year-on-year during the second quarter of 2019.

Assets of Saudi-listed banks reached SAR 2.33 trillion ($622.14 billion) in Q2-19, compared to SAR 2.15 trillion ($572.62 billion) in Q2-18, according to Mubasher statistics.

National Commercial Bank (NCB) topped the banks in terms of the asset size, recording SAR 478.64 billion ($127.64 billion) during the three-month period ended June.

Al Rajhi Bank came in second place with a total of SAR 369.52 billion by the end of June.

In Q2-19, the asset size of the Saudi British Bank (SABB) jumped by 47.6% to SAR 270.28 billion, compared to SAR 183.13 billion in the same period of the prior year.

On the other hand, Bank Albilad recorded the lowest asset size with a total of SAR 76.99 billion in Q2-19.

Source: Mubasher Exclusive

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