Saudi: Banks achieve record high of SR1 trillion market value

The total market value of Saudi banks has approached the SR1 trillion mark for the first time in history, with the actual value at the end of trading on Sunday being SR968.88 billion.

Al-Rajhi Bank emerged top on the index with the highest market value of about SR335.5 billion, equivalent to 34.63 percent of the total value of the banking sector in the Kingdom. The National Commercial Bank (Al-Ahli Bank) came second, with a value of about SR288.38 billion, or 29.76 percent of the total value of the Saudi banking sector. Al-Ahli had this gain especially after its merger with Samba Group.

Riyad Bank came third with about SR82.2 billion (8.48 percent), followed by SABB, which recently merged with “Alawwal” Bank, with a market value amounting to SR68.22 billion (7.04 percent).

The shares of Al-Ahli and Alinma made history by recording their highest price during Sunday’s trading. The unit price of Al-Ahli shares was SR64.7, while that of Alinma touched SR24.86.

Source: https://www.gulf-insider.com/saudi-banks-achieve-record-high-of-sr1-trillion-market-value/

 

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