Saudi Banks’ Market Capitalization Increased by SR24.7 bln

Saudi banking sector’s market valuation climbed by SR24.7 billion, during Thursday, December 16, 2021 session, that lasted only 5 hours.

At the end of the session, their market value of was SR981.6 billion, up from SR956.9 billion, in the previous session, on Wednesday.

In terms of market capitalization, Al-Rajhi topped the banks with SR7.5 billion gains, after its share price rose by 2.2%, followed by SABB with SR4.4 billion, in market value compared to the previous session, and then the Saudi National Bank (SNB) with SR4 billion, ranking the 3^rd.

Banking sector index rose 2.7% at the end of Thursday’s session, and all 10 banking stocks listed on the Saudi stock exchange Tadawul collectively rose, compared to the previous session, led by SABB, rising 7.5%, followed by Banque Saudi Fransi, which rose 6.7%, and Al-Bilad, posted 3.5%.

In contrast, the only exception was Al Jazira stock as it fell, ending Thursday’s session with a 0.2% loss, with the bank market value declined by SR33 million compared to the previous session.

The Saudi stock index Tadawul finished Thursday’s trading session, climbing 168.51 points, or 1.51% over the previous session, closing at 11,311.89.

Source: Tadawul, Maaal follow up unit