By: El-Sayed Gamal

Riyadh – Mubasher: The Saudi banks increased their government bonds holdings during November, recording their highest level ever.

Saudi banks’ holdings of government and semi government bonds surged 20.9% year-on-year to SAR 303.17 billion in November, according to Saudi Arabia Monetary Authority (SAMA).

Month-on-month, banks’ holdings of government bonds increased by 0.7% or SAR 2.08 billion.

In November, total public sector’s debts owed to banks registered SAR 350.65 billion, in addition to SAR 47.48 billion bank credit provided to public institutions, SAMA’s data showed.

Total private sector’s outstanding debts owed to banks went up 2.3% year-on-year to SAR 1.447 trillion.

Translated by: Muhammad Khalid