Riyadh – The overall value of consumer debts in Saudi Arabia increased by 5.3% year-on-year (YoY) in the second quarter (Q2) of 2020, equivalent to SAR 16.89 billion.
The consumer debts for the April-June period of the year came in at SAR 335.77 billion, compared with SAR 318.88 billion in the same period a year ago, according to data collected by Mubasher based on official figures by the Saudi Arabian Monetary Authority (SAMA).
In the first half (H1) of 2020, the value amounted to SAR 2.33 billion, an increase of 0.7% from SAR 333.44 billion at the end of 2019.
Credit card loans up 20% in Q2
During Q2-20, credit card loans, excluding mortgage loans, financial leasing, and loans granted for stock trading purposes, posted a 20.1% annual growth to stand at SAR 20.08 billion from SAR 16.72 billion in Q2-19.
QoQ, the value of the above-mentioned loans rose 1.05% when compared to the Q1-20 level of SAR 20.29 billion.
Furthermore, Saudi bank credit jumped 13.2% YoY or SAR 194.91 billion in Q2-20 to record SAR 1.672 trillion, compared with SAR 1.477 trillion in the corresponding period a year ago.