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Saudi banks’ investments in gov’t bonds hit SAR 431.6bn in 10M

Saudi banks’ investments in gov’t bonds hit SAR 431.6bn in 10M
The Saudi banks’ holdings of government bonds rose by 13.86% YoY in October.

Riyadh – Mubasher: Saudi banks increased their government bond holdings by 12.49% in the first ten months of 2020 to SAR 431.58 billion, compared with SAR 383.67 billion at the end of 2019.

In October 2020, the banks’ holdings of government bonds rose by 13.86% year-on-year (YoY) when compared to their level in the year-ago month at SAR 379.06 billion, according to data from the Saudi Arabian Monetary Authority (SAMA).

Meanwhile, banks bought SAR 2.36 billion worth of bonds, up by 0.55% monthly.

Banks’ investments in government bonds represented 85.98% of total liabilities of banks from the public sector, which rose by 15.6% YoY last month to record SAR 501.96 billion.