Sharia-compliant loans issued by National Commercial Bank (NCB) reached SAR 188.5 billion by the end of June.
Islamic financing accounted for 81 percent of NCB’s total loans and advances, which stood at SAR 233 billion in the same period, rising from 78 percent at the end of 2014.
Last year, Saudi Arabia’s largest bank by assets said it would plan to fully transition into an Islamic bank over the next five years.
|
Breakdown of NCB Loans – (SAR bln) |
|||
|
Percentage of total loans |
Sharia-compliant loans |
Total loans & advances |
Period |
|
56% |
70.0 |
125.6 |
2010 |
|
60% |
81.0 |
135.3 |
2011 |
|
64% |
104.2 |
163.5 |
2012 |
|
66% |
124.2 |
187.7 |
2013 |
|
78% |
173.0 |
220.7 |
2014 |
|
80% |
180.2 |
225.9 |
Q1-2015 |
|
81% |
188.5 |
233.0 |
Q2-2015 |
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