Al Rajhi Bank pumps SAR 4 bln into domestic sukuk issue

17/10/2017 Argaam

 

Al Rajhi Bank has injected up to SAR 4 billion in the SAR 37 billion domestic sukuk issued by the ministry of finance over the last three months, Abdulrahman Abdullah Al Fadda, General Manager Treasury and Financial Institutions at Al Rajhi told Al Arabiya TV.

 

The banking sector’s liquidity rose by SAR 40 billion in a 12-month period up to August 2017, while Al Rajhi’s cash position improved by 17 percent over the same period, he noted.

 

The positive impact of lower cost of deposits on profit margins will likely appear on earnings of Q3 2017, he added.

 

Al Rajhi’s interest-free demand deposits ratio ranged between 90-92 percent, while its loan-to-deposit ratio (LTD) reached 82 percent, in line with the industry’s LTD at 82-86 percent.

 

Al Rajhi is currently paying a special attention to the home mortgage loans, in line with the Kingdom’s strategy and Saudi Vision 2030.

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