Saudi Arabia-based banks wrote-off a total of SAR 6.5 billion of non-performing loans (NPLs) last year, a 45 percent decline compared to 2013, according to data compiled by Argaam.
NPLs declined to SAR 14.4 billion by the end of last year, compared to SAR 15.4 billion in 2013. Combined credit provisions of Saudi banks reached SAR 26.4 billion in 2014 from SAR 24.5 billion the year before.
Saudi Hollandi Bank’s written-off NPLs increased 44 percent in 2014, unlike other listed banks, which reported that their percentages dropped.
NPLs are defaulted loans that are not yet written-off. Banks usually write-off NPLs to preset credit provisions when loans are unrecoverable.
|
NPLs written-off for 2014 (SAR mln) |
|||
|
Change |
2014 |
2013 |
Bank |
|
( 34% ) |
1,792 |
2,707 |
Al-Rajhi |
|
( 51% ) |
1,578 |
3,248 |
NCB |
|
31%)) |
1,116 |
1,610 |
RIBL |
|
( 40% ) |
442 |
742 |
SABB |
|
(28% ) |
307 |
426 |
SAMBA |
|
( 49% ) |
431 |
853 |
BJAZ |
|
( 19% ) |
236 |
291 |
Saudi Fransi |
|
( 83% ) |
212 |
1,270 |
Arab National Bank |
|
+44% |
186 |
129 |
Saudi Hollandi |
|
( 41% ) |
134 |
229 |
SIBC |
|
( 83% ) |
63 |
374 |
Al Bilad |
|
-- |
0.1 |
0.3 |
Alinma |
|
( 45% ) |
6,497 |
11,879 |
Total |
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