The value of demand deposits with Saudi banks at the end of the third quarter of the current year 2018 raised to about 1.08 trillion riyals, which was accounting for 64.6 per cent of total deposits.
According to the analysis of the reports unit in the newspaper "AlEqtisadiah" based on the financial statements of Saudi banks, demand deposits rose by 0.9 percent to reach SR 10 billion compared to the end of the second quarter of 1.07 trillion riyals.
Demand deposits are deposits that banks do not pay any interest or commissions to their owners such as savings deposits or term deposits.
Therefore, banks that make demand deposits find a large proportion of their deposits are the highest profitability among the rest of the other banks.
According to the analysis, demand deposits with two of the 12 banks, "Al Rajhi Bank" and "AlAhli Bank", were accounted for more than two thirds of total deposits.
Al Rajhi Bank's demand deposits were accounted for 93.2 per cent of its total deposits, while AlAhli were accounted for 79.3 per cent of its total deposits.
SABB ranked third in terms of the highest value of demand deposits that are accounting for 64.2 per cent of its total deposits, then "Samba" by 56.8 per cent, "Albilad" by 54 per cent, "Riyadh" by 53.6 per cent, and "Al Jazeera" by 51.2 per cent.
"Alinma Bank" came in at 50.9 per cent, "Arab Bank" by 49.6 per cent, "Fransi" by 48.1%, "AlAwwal" by 42.2 per cent, and the most recent of which was "Saudi Investment" by 39.8%.
The Saudi banks listed in the Saudi stock market during the first nine months of this year 2018 profits of 37.74 billion riyals, which is registering a growth of 9.9 percent, equivalent to 3.4 billion riyals over the same period last year amounting to about 34.34 billion riyals.
* Economic Reports Unit
