Saudi banks invest SAR172.5bn abroad in August

12/10/2015 08:13 AST

Saudi banks invested a total of SAR172.5 billion in August, accounting for 10.6 per cent of the value of their deposits, which stood at SAR1.62 trillion.

The banks’ foreign investments make up 7.8 per cent of their assets, which reached SAR2.21trn and 57.4 per cent of their foreign assets, which amounted to SAR300bn. According to data collected by Al-Eqtisadiah, the Saudi banks’ investments increased by 17 per cent or SAR25.2bn compared with the figure recorded in the same period last year, which was SAR147.2bn.

But the data shows a decline of one per cent or SAR1.8bn in the Saudi banks’ investments abroad when compared with SAR174.3 reported at the end of July this year.

Saudi banks resort to foreign investments abroad for several reasons including diversifying liquidity base and generating revenues from clients’ deposits, which remain lower than the returns coming from lending but are less risky.

They also seek to bring in more foreign currency and diversify sources of income in terms of quality and risk.


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