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Saudi bank investments in gov’t bonds rise 24% in May

Saudi bank investments in gov’t bonds rise 24% in May
Saudi banks’ holdings of government bonds jumped to SAR 349.232 billion in May

Riyadh – Mubasher: Saudi banks increased their government bond holdings by 23.98%, or SAR 67.65 billion, year-on-year in May.

Saudi banks’ holdings of government and semi-government bonds jumped to SAR 349.232 billion in May, compared to SAR 281.67 billion in the corresponding month a year earlier, according to recent data released by the Saudi Arabian Monetary Authority (SAMA).

Month-on-month, the kingdom’s bank investments in government bonds went up 1.8%, from SAR 343.129 billion in April.

It is worth noting that the GCC nation plans to issue bonds worth SAR 118 billion during 2019 in a bid to finance the budget deficit of the current fiscal year.