Riyadh – Mubasher: The balance sheet of Saudi Arabia’s banking sector rose 1.9% year-on-year and 0.5% quarter-on-quarter to SAR 2.267 billion in the first quarter of 2017, according to Aljazira Capital.

Total loans accounted for 72.3% of total assets, while deposits represented 71% of total liabilities.

The banking sector’s balance sheet increased 10.9% at a ten-year compound annual growth rate (CAGR).

Saudi Arabia has twelve listed banks on the Saudi Stock Exchange (Tadawul), in addition to other unlisted banks.

Saudi banking deposits and money supply rose steadily at a ten-year CAGR of 8.4% and 8.5%, respectively, the report said.

Moreover, total deposits went down 0.01% year-on-year to SAR 1.608 trillion in Q1-17 from SAR 1.609 trillion in Q1-16.

Demand deposits levelled up 1.1% year-on-year to SAR 995.9 billion in Q1-7 compared to SAR 985.4 billion in Q1-16.

The total loan book of banking sector shed 0.1% year-on-year to SAR 1.41 trillion toward the end of the first quarter of this year, registering a ten-year CAGR of 10.8%, Aljazira Capital.

The industry ADR ratio stood flat at 86.1% in Q1-17 as total gross loans fell 1.2% while deposits saw a similar decline.