152.4 billion SR, the foreign assets of local banks, up 1.7 billion in May

​         The foreign assets of the Saudi banking sector of SAR 152.4 billion at the end of May 2008 compared to SR 150.7 billion at the end of April 2017, an increase of SR 1.7 billion.
According to the analysis of the unit of reports in the newspaper "Economic", based on the data of the Saudi Arabian Monetary Agency "SAMA", the rise in net foreign assets of 1.7 billion riyals, due to the growth of foreign assets of the Saudi banking sector, which increased by 2 percent, equivalent to 5.4 billion riyals to reach At the end of last May, to 239 billion riyals compared to 233.7 billion riyals by the end of April 2017.
The foreign liabilities on the Saudi banking sector grew by 3.6 billion riyals by 4 percent to reach 86.6 billion riyals at the end of May of this year compared to 83 billion riyals at the end of April 2017.
The net foreign assets of the Saudi banking sector reached the highest level since July 2016, the highest level in 10 months.
The number of banks operating in Saudi Arabia is 23 banks, of which 12 are Saudi banks and all are listed on the Saudi stock market and 11 branches of foreign banks operating in the Kingdom.
Returning to net foreign assets of the Saudi banking sector, it has increased by SR 6.7 billion since the beginning of the year. The net value amounted to SR 145.7 billion at the end of last year and rose up to SAR 152.4 billion at the end of May 2017.
The net foreign assets grew by SR 6.7 billion, according to the report's unit analysis. The foreign assets of the Saudi banking sector grew by SR 13.2 billion.
On the other hand foreign liabilities on the Saudi banking sector grew by 6.5 billion riyals.
The banking sector with 4 percent growth in its profit in May to reach SR 4.1 billion compared to a net profit of 2016 billion riyals in 2016.
The banks operating in Saudi Arabia recorded a decline in profits since the beginning of 2017 (the first five months of 2017) to reach about 18.95 billion riyals, a decrease of 2 percent compared to the same period of 2016 of about 19.2 billion riyals.