The total bank deposits in Saudi Arabia during the second quarter of this year achieved an increase of 3 percent, adding 49 billion riyals to reach at the end of the period about 1677.6 billion riyals, recording an annual increase of 3.9 percent compared to the corresponding quarter of the previous year... «SAMA»... Real estate financing
According to SAMA's report on monetary and banking developments for the second quarter of this year, banking activity recorded a 3 percent increase in the total assets and liabilities of commercial banks at the end of the second quarter to reach 2433.3 billion riyals, an annual increase of 5.2 percent compared to the corresponding quarter of the previous year.
Although the total foreign assets of commercial banks declined 4.9 percent year-on-year, they rose 1.4 percent quarter-on-quarter to reach SAR 216 billion, making foreign assets of commercial banks account for 8.9 percent of total bank assets.
This comes at a time when the total assets of commercial banks in the UAE have declined by 4.9 percent year-on-year to reach SAR 2,433.3 billion. <This comes at a time when the foreign liabilities of commercial banks during the period recorded an annual increase of 31 percent compared to the same quarter of last year, while the net foreign assets of commercial banks at the end of the second quarter decreased by 28.5 percent compared to the corresponding quarter of last year to reach 97.9 billion riyals. The liabilities of commercial banks from the private and public sectors “government and semi-government” increased by an annualized change of 6.2 percent to reach 1865 billion riyals at the end of the period, while the liabilities of commercial banks from the private and public sectors as a percentage of total bank deposits decreased to 111.2 percent compared to 112.7 percent at the end of the previous quarter.
Commercial banks« capital and reserves rise
<SAMA noted in its report that the capital and reserves of commercial banks during the second quarter of this year increased by 7.8 percent compared to the corresponding quarter of last year to reach 358.9 billion riyals.SAMA affirmed that it continues to pursue a monetary policy that ensures price stability, supports various economic sectors in a manner consistent with local and global economic developments, and at the same time supports local banks to fulfill their financing role in the local economy.
It referred to a series of measures adopted in this context, including its decision to maintain the repurchase agreement rate of return at 3 percent and the reverse repurchase agreement rate at 2.5 percent. On September 18, 2019, the institution reduced the repurchase agreement rate to 2.50 percent and the reverse repurchase agreement rate to 2.00 percent. ....»SAMA“..
The report also highlighted the indicators of the development of price stability. <The report also addressed the indicators of development in banking technology and financial inclusion for the second quarter of this year, as the total value of operations of the SARIE system decreased by 14.7 percent to reach 10.6 billion riyals, while the total operations carried out through ATMs amounted to approximately 529.3 million operations with total cash withdrawals of 189.3 billion riyals, including bank operations and mada operations.As for the operations carried out through POS devices during the second quarter of the year, they amounted to about 362.3 million operations with total sales of 72.7 billion riyals. The total number of ATMs reached about 18.8 thousand devices at the end of the period, while the number of ATM cards reached about 30.3 million cards, and the number of POS devices at the end of the second quarter of 2019 about 388 thousand devices. ....”SAMA«...
Selected real estate news links from Newsissue178:
Real Estate Financing - Real Estate - Global Real Estate - Real Estate Inspection - Real Estate Financing
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With the patronage of the Minister of Housing
وزارة الإسكان توقع 600 عقداً مع المستفيدين من مخطط عسفان السكني شمال جدة Riyadh Real Estate Investment and Development Company
Real Estate Finance "الرياض للتعمير" تؤسس شركة تنال للاستثمار والتطوير العقاري.. Riyadh Real Estate Finance Riyadh Real Estate Finance Riyadh Real Estate Finance Riyadh Real Estate Finance
الصندوق العقاري يعلن أن مطلع 2020 سيشهد إعلان آخر قوائم انتظار المستفيدين
