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Business, Banking & Finance, Economy

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Saudi bank loans to public and private sectors grow 14% by July end

Loans granted to public non-financial institutions increased 26% YoY to $29.57 billion. (WAM)
By TRENDS Desk
August 30, 2022 11:22 pm
  • The total loan granted by Saudi banks amounted to SAR 2.324 trillion ($620bn) by July end.
  • Private-sector lending also increased by 14 percent year-on-year (YoY) to SAR 2.213 trillion ($590bn).

Riyadh, Saudi Arabia – Saudi bank loans granted to public and private sectors grew 14 percent by the end of July to SAR 2.324 trillion ($620bn), compared to SAR 2.034 trillion ($540bn) a year earlier, according to data issued by the Saudi Central Bank (SAMA).

Private-sector lending also increased by 14 percent year-on-year (YoY) to SAR 2.213 trillion($590bn) for the same month.

Meanwhile, loans granted to public non-financial institutions increased 26 percent YoY to about SAR 111.1 billion($29.57bn) by the end of July.

 

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