Saudi banks deposits grow to1.1tr Saudi riyal

A study conducted by the economic unit at the newspaper on the volume of call deposits and saving in Saudi banks listed in stock markets found out that the first category, call deposits form the highest percentage of total deposits. Total deposits of all listed banks at the end of the first quarter of this year yielded to SR 1.1 trillion, of which 60 percent are call deposits worth SR 700 billion, while savings represent 40 percent, worth SR 428 billion. The study found out that for the quarters of the last two years, call deposits grew in each quarter, unlike saving deposits that was volatile during that period of time. With regard to Saudi banks results, Al-Rajhi Bank came first in terms of the percentage of call deposits, with 86 percent of the total of the deposits of the bank at the end of the first quarter of this current year. This is translated to SR 200 billion. Bank Albilad came second on the list, with call deposits forming 78 percent of its total deposits. Following this bank came Samba Financial Group, with 63 percent of its deposits are call deposits. With 57 percent of its deposits are call deposits, Alinma Bank came fourth in the list, following it SABB (The Saudi British Bank) which ranked fifth with 57 percent, and Banque Saudi Fransi and Saudi Hollandi Bank both ranked sixth with 56 percent for each. In the seventh place came the Arab National Bank by 51 percent, then came Riyad Bank, which ranked eighth by 47 percent, Bank AlJazira in the ninth place with 39 percent, and finally the Saudi Investment Bank by 24 percent. Total deposits of the listed banks recorded a growth in the first quarter of this year compared to the same period last year, an increase of 14 percent, which is equivalent to SR 135.5 billion. Al-Rajhi Bank and Arab National Bank led this growth, where the growth of both of their deposits by 47 percent contributed to the total growth, if we knew that the largest contribution came from Al-Rajhi Bank, with 25 percent, equivalent to SR 45.6 billion, and translated to 34 percent of the total of deposits growth. Meanwhile, deposits of Arab National Bank grew by 20 percent, to SR 18.4 billion, which meant 14 percent of the total growth of deposits. Following came Alinma Bank with 10 percent, Samba with 8 percent and SABB with 9 percent. Both of Bank Albilad and Riyad Bank were the least in growth in terms of value — deposits of the first grew by SR 2.4 billion and the second by SR 4.4 billion. The rest of banks recorded SR 6 billion to SR 8 billion deposit growth. Source: ArabNews