Dubai, UAE — Saudi Arabian Alinma Bank posted the first quarter asset growth of 19.1 percent, leading other Saudi-listed banks, compared to same period a year ago. Al Rajhi Bank came second with 18.1 percent growth. The sector’s average growth rate stood at 11.2 percent.
The Saudi Investment Bank led by loan growth with 22.8 percent, followed by Al Rajhi Bank (18.5 percent) and Alinma Bank. The loan sector’s growth averaged 10.3 percent during this period, according to Argaam.
In terms of deposit growth, Alinma Bank again led the way with 24.9 percent, while Bank Albilad came second with 22.5 percent.
Riyad Bank topped the list in terms of demand deposit growth with 6.1 percent in the first quarter. As far as the operating income growth is concerned, Saudi British Bank (SABB) reported the highest growth of 43.2 percent, followed by Arab National Bank (ANB) at 34 percent. SABB also topped in terms of profit growth before provisions and Zakat, recording a 60.7 percent leap.
Al Rajhi Bank and Banque Saudi Fransi were the top performers in loan-to-deposit ratio with 103.7 percent and 98.4 percent, respectively. Al Rajhi Bank also led in terms of retail segment assets-to-total assets ratio with 58.6 percent.
