By: El Sayed Gamal

Riyadh – Mubasher: Total assets of banks listed on the Saudi Stock Exchange (Tadawul) grew by SAR 261.5 billion ($69.73 billion) or 11.98% year-on-year during 2019, according to data compiled by Mubasher.

Assets of 11 Saudi banks totalled SAR 2.445 trillion last year, compared to SAR 2.184 trillion in 2018.

The National Commercial Bank (NCB) accounted for 20.7% of total assets of Saudi listed banks, registering SAR 507.26 billion, up by SAR 55.09 billion year-on-year in 2019.

Al Rajhi Bank came in the second place with a total of SAR 384.09 billion, rising by SAR 20.06 billion or 5.5% from 2018.

Over the course of 2019, the Saudi British Bank (SABB) reported the highest asset growth rate of 52% or SAR 90.8 billion.

On the other hand, Bank Albilad and Bank Aljazira posted the lowest asset size of SAR 86.08 billion and SAR 86.54 billion, respectively.

Investments

Investments of Saudi listed banks rose by SAR 97.68 billion or 22.2% to SAR 537.5 billion last year, compared to SAR 439.85 billion in 2018.

NCB topped banks in terms of investments with SAR 134.08 billion, followed by Al Rajhi Bank and Bank Aljazira with SAR 46.84 billion and SAR 27.6 billion, respectively.

Meanwhile, SABB posted the highest growth investment rate of 75%, followed by Bank Albilad and Arab National Bank with 69.9% and 36.6%, in that order.