Saudi deposits fall 1% H1

The deposit decrease was attributed to a 12.2% decline in time and saving deposits

  
Traders work at a Saudi bank in Riyadh.

Traders work at a Saudi bank in Riyadh.

REUTERS/Fahad Shadeed

Riyadh –   The Saudi Arabian Monetary Authority's (SAMA) deposits dropped 1.2% to 1.614 trillion by the end of first half of 2018, from SAR 1.634 trillion in the year-ago period.

The deposit decrease was attributed to a 12.2% decline in time and saving deposits, registering SAR 420.36 billion in the six-month period ended June, compared to SAR 478.82 billion during H1-17, SAMA's data showed.

Demand deposits increased 3.8% to SAR 1.02 trillion by the end of June, from SAR 982.37 billion in H1-17.

The kingdom's bank credit inched up 0.18%, reaching SAR 1.414 trillion by the end of H1-18, compared to SAR 1.411 trillion in the prior-year.

Source: Mubasher

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