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Business, Banking & Finance, Economy

TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.

Tesla’s first Saudi showroom opens

The opening in Riyadh comes with Tesla sales dropping.

Mubadala Energy enters US energy market

Acquires a 24.1% interest in US firm Kimmeridge’s SoTex

Borouge to increase dividend from 2025

The company okayed $650 million final dividend for 2024.

TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

Saudi banks provide $630 billion loans till August 2022

Saudi banks had given $550bn as loan till August 2021. (WAM)
By TRENDS Desk
October 2, 2022 11:53 pm
  • Private-sector lending also increased by 15 percent year-on-year to SAR 2.241 trillion ($600 billion).
  • Loans granted to public non-financial institutions increased 26 percent YoY to SAR 117.1 billion ($31.14 billion).

Riyadh, Saudi Arabia – Saudi bank loans granted to public and private sectors grew 15 percent  by the end of August to SAR 2.359 trillion ($630 billion), compared to SAR 2.049 trillion ($550 billion) a year earlier, according to the Saudi Central Bank (SAMA).

Private-sector lending also increased by 15 percent year-on-year (YoY) to SAR 2.241 trillion ($600 billion) for the same month.

Meanwhile, loans granted to public non-financial institutions maximized 26 percent YoY to about SAR 117.1 billion ($31.14 billion) by the end of August.

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