RIYADH: Saudi financial institutions recorded an 8 percent increase in the value of assets under management to SR757 billion ($202 billion) at the end of the second quarter of 2022.
This is up from SR703 billion in the corresponding period last year, but down from SR817 billion in the first quarter of 2022, according to data by the Capital Market Authority.
The report issued by the Kingdom’s CMA provides detailed data on the entities that are subject to the authority’s supervision.
SNB Capital contributed SR268 billion, marking the largest share of assets under management among the 69 firms authorized by the CMA to offer financial services to investors.
Riyad Capital Co. and Alinma Investment Co. accounted for SR80.7 billion and SR71.8 billion, respectively, followed by Al Rajhi Capital with SR55.9 billion.
Infrastructure institutions and fintech companies under the authority achieved Saudization rates of 89 percent and 80 percent respectively, the data showed.
