Saudi Central Bank’s total assets rise to $490b

RIYADH, Nov 01 (Arab News): The Saudi Central Bank, also known as SAMA, reported a 3.4 per cent increase in total assets to SR1.82 trillion ($490 billion) in September, up from SR1.76 trillion in August, according to official data.
The SAMA monthly statistical bulletin indicated that the total assets in July and June were SR1.78 trillion and SR1.83 trillion, respectively. However, in September, the central bank's total assets declined by SR168.4 billion compared to the same period last year. The report also revealed that SAMA's investments in foreign securities decreased 11.5 per cent year-on-year in September, amounting to SR997.9 billion.
Moreover, SAMA's deposits with banks abroad amounted to SR376.29 billion, rising 7 per cent compared to September last year. The central bank had assets worth SR256.53 billion in foreign currencies and gold. At the same time, cash in the vault amounted to SR24.87 billion in the month under review. The report further noted that banks operating in Saudi Arabia witnessed a 22 per cent rise in their aggregate profits before zakat and taxes to SR7.14 billion in September, compared to SR5.84 billion in the same month of 2022.