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Saudi banks increase investments in gov’t bonds

Saudi banks increase investments in gov’t bonds
Saudi Arabian Monetary Authority (SAMA)

Riyadh – Mubasher: Saudi banks increased their purchases of government bonds during 2019 by around 55.1% or SAR 27.91 billion to a total of SAR 78.52 billion, compared with SAR 50.61 billion in 2018.

Total bank investments in Saudi bonds grew by 25.7% last year to SAR 383.67 billion.

In December, banks bought SAR 3.72 billion worth of bonds, bringing the share of investment in bonds in the banking sector assets to 86.16%, as shown by the data of the Saudi Arabian Monetary Authority (SAMA).

Meanwhile, the government of Saudi Arabia issued debt instruments valued at a little over SAR 120 billion last year, of which SAR 69.84 billion were sold in the local Sukuk market, while SAR 9.38 billion were collected from international Sukuk sales, and SAR 40.83 billion from bond issuances.