Saudis boost bank balances despite pandemic

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Wed, 2020-09-02 14:23

LONDON: Saudi bank deposits edged up in the second quarter compared to a year earlier according to a report from KPMG.
Deposits rose 3 percent to $496.5 billion compared to the year-earlier period despite mounting pandemic-related pressures elsewhere in the banking system.
The Saudi banking sector reported an average increase of 41.4 percent in expected credit losses for the three-month period ended June 30, 2020, to $2.293 billion, KPMG said.

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