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Saudi Banks increase investments in gov’t bonds

Saudi Banks increase investments in gov’t bonds
Bank investments in bonds reached SAR 379.95 billion by the end of November

Riyadh – Mubasher: Banks operating in Saudi Arabia increased its investments in government-issued bonds during November by 25.2% on an annual basis, equivalent to SAR 76.56 billion.

The banking sector investments in bonds reached SAR 379.95 billion by the end of last November, compared with SAR 303.39 billion in the same period in 2018, as shown by the monthly bulletin of the Saudi General Authority for Statistics (GaStat).

Banks purchased bonds valued at SAR 897 million during November 2019, registering an increase of 0.2% compared with October.

Alinma Bank CEO, Abdulmohsen Abdulaziz Al Fares previously told Mubasher that the growth in the bank’s investment portfolio came primarily from the increased investments in low-risk government bonds, as well as in other Saudi funds and the Saudi Stock Exchange (Tadawul).