Saudi banking system enjoys strong performance indicators: SAMA Governor

Ayman Al-Sayari, SAMA Governor

The Saudi Arabian banking system enjoys solid performance indicators, as the liquidity coverage ratio (LCR) reached 188.3% by the end of the second quarter 2023 and the net stable funding ratio (NSFR) reached 115%, Saudi Central Bank (SAMA) Governor Ayman Al-Sayari said.

Speaking at the Arab Banking Conference in Riyadh, Al-Sayari said that the capital adequacy ratio (CAR) stood at 20.1% by the end of the second quarter 2023.

He also stated that the FinTech strategy aims to achieve the desired economic impact, as it targets increasing FinTech companies to 525. The strategy seeks to add 18,000 direct specialized jobs and contribute to the GDP by more than SAR 13 billion by 2030.

Meanwhile, he noted that the number of FinTech firms in various fields exceeded 200 by the end of August.