Riyadh – Mubasher: Assets of Saudi banks listed on the Saudi Stock Exchange (Tadawul) grew by 14.1% on a year-on-year (YoY) basis in the third quarter (Q3) of 2020, equivalent to SAR 331.615 billion ($88.43 billion).
Assets of 11 Tadawul-listed lenders stood at SAR 2.686 trillion ($716.23 billion) in Q3-20, compared with SAR 2.354 trillion ($627.79 billion) in Q3-19, according to data collected by Mubasher based on the banks’ earnings releases.
Riyad Bank achieved the highest quarterly rise in assets by 23.1% yearly to SAR 308.56 billion ($82.28 billion).
Moreover, National Commercial Bank (NCB) logged the highest assets by the end of the third quarter at SAR 577.08 billion ($153.89 billion), an annual hike of 16.2%.
Al Rajhi Bank took the second spot as its assets jumped by 16.97% YoY in the July-September period to reach SAR 430.3 billion ($114.75 billion).
Total assets of SABB and SAIB during Q3-20 amounted to SAR 263.95 billion ($70.39 billion) and SAR 98.34 billion ($26.22 billion), respectively.