Statutory reserves of 128 listed companies reached SR133.3 billion by the end of Q1 of the current year which represented 30 of their capitals valued at SR394.2 billion, according to a financial report.

However, 35 newly incorporated or losing firms, though listed, do not retain statutory reserves, the report, prepared and analyzed by Al-Eqtisadiah daily, said.

According to the report, the banking sector captured the biggest portion of the statutory reserves at 56 percent, valued SR75 billion, followed by petrochemical sector at 16 percent (SR21 billion), and telecom sector at 10 percent (SR13 billion).

On the other hand, three sectors kept 3 percent for each of the market’s total statutory reserves: they are real estate development, cement and agriculture whereas energy and industrial investments sectors kept 2 percent for each, the report said.