|15 August, 2019

Saudi Arabia’s bank lending grows 3.1% in Q2 – SAMA

Total loans recorded $386mln in Q2 2019

Saudi currency, riyal, is seen at a local currency exchange in Manama, Bahrain October 16, 2018. Image for illustrative purposes. Image used for illustrator purpose

Saudi currency, riyal, is seen at a local currency exchange in Manama, Bahrain October 16, 2018. Image for illustrative purposes. Image used for illustrator purpose

REUTERS/ Hamad I Mohammed

Riyadh –  Saudi Arabia’s bank lending levelled up by 3.1% during the second quarter of 2019, supported by the increase in long-term credit facilities by more than SAR 100 billion, according to the Saudi Arabian Monetary Authority’s (SAMA) data.

Total loans recorded SAR 1.45 trillion in Q2-19, compared to SAR 1.41 trillion in Q2-18.

The long-term loans levelled up by 24.3% to SAR 517.93 billion during the three-month period between April and June, versus SAR 416.64 billion in the same period of the prior year.

Meanwhile, short-term facilities decreased by 1.6% year-on-year to SAR 714.91 billion by the end of June.

Medium-term credit also fell by 16.8% to SAR 225.25billion in Q2-19, against SAR 270.6 billion in the corresponding period last year.

For the first half of 2019, bank lending in the GCC nation inched up by 2.25%, from SAR 1.426 trillion in H1-18.

Source: Mubasher

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