Listed Saudi banks recorded an increase in their total assets by the end of the second quarter of 2023 by 8.36% on an annual basis, an increase equivalent to 275.96 billion riyals ($73.59 billion) compared to their value at the end of the same quarter of last year.
A compiled statistic prepared by Mubasher, based on bank disclosures on the Saudi financial market website, Tadawul, showed that total assets increased by the end of the second quarter of this year to 3.577 trillion riyals ($953.87 billion), compared to 3.301 trillion riyals ($880.27 billion) by the end of the second quarter of 2022. .
The assets of the ten banks listed on the Saudi stock market increased by the end of the second quarter of the year 2023 on an annual basis, led by the National Bank of Saudi Arabia, Al-Ahly, which acquired 27.85% of the total assets of banks.
The National Bank topped the banks in the Kingdom in terms of assets at the end of the second quarter of 2023, with a total of 996.16 billion riyals ($ 265.64 billion), increasing its total assets by 3.9%, equivalent to 37.69 billion riyals ($ 10.05 billion), compared to its value at the end of the corresponding quarter of 2022.
Al-Rajhi Bank came second by the size of the assets; With a total of 784.52 billion riyals ($209.2 billion), recording an increase of 10.6%, equivalent to 75.24 billion riyals ($20.06 billion) for the second quarter of 2022, with assets representing 21.93% of the total assets of banks.
Riyad Bank and First Saudi Bank ranked third and fourth in terms of assets by the end of the second quarter of 2023; Their total assets amounted to 389.24 billion riyals ($103.8 billion) and 334.91 billion riyals ($89.31 billion), respectively, after recording an annual increase of 8.7% and 10.7%, respectively.
Banque Saudi Fransi increased its assets at the end of the second quarter of 2023 by about 6.3% on an annual basis. To 245.72 billion riyals ($65.52 billion), followed by the Arab National Arab Bank, with a growth of 2.9%, to 215.98 billion riyals ($57.6 billion).
The assets of Alinma Bank amounted to 226.9 billion riyals ($60.51 billion) at the end of the second quarter of this year, achieving an increase of 22.9% on an annual basis, followed by Bank Albilad with assets amounting to 135.4 billion riyals ($36.1 billion), recording an increase of 11.4% over the second quarter. From the year 2022.
The Saudi Investment Bank, Al-Istithmar and Al-Jazira Bank, ranked ninth and tenth in terms of the volume of assets by the end of the second quarter of 2023; With a total of 123.6 billion riyals ($32.96 billion) and 124.44 billion riyals ($33.19 billion), respectively, after recording annual growth of 11.55% and 8.54% over its assets at the end of the same quarter of last year.
On a quarterly basis, bank assets in the Kingdom increased by 2%, equivalent to 275.96 billion riyals ($73.59 billion) in the second quarter of 2023 compared to their value in the previous quarter of 3.506 trillion riyals ($934.93 billion) at the end of the first quarter of the same year. .
The 10 banks raised their assets in the second quarter of 2023 from the previous quarter, and Alinma Bank recorded the highest growth rate of 6.15%.
The National Bank achieved the highest increase in assets during the second quarter of 2023 compared to its assets at the end of the first quarter of the same year; Its assets increased by 20.11 billion riyals ($5.36 billion), followed by Al-Inma Bank, with an increase of 13.15 billion riyals ($3.51 billion), then Al-Rajhi Bank, with a growth of 8.32 billion riyals ($2.21 billion).
The assets of listed Saudi banks increased by 5.77% during the first half of 2023, with an increase of 195.3 billion riyals ($52.08 billion) compared to their value at the end of 2022 of 3.381 trillion riyals ($901.6 billion).
