By Thabet Shehata
Riyadh-Mubasher: The total loans owed by Saudi Telecom Co. (STC) and Etihad Etisalat (Mobily) to local banks reached nearly SAR 5.2 billion ($1.39 billion) at the end of 2015.
The short-term loans of the two companies totalled SAR 2.7 billion, or nearly 52% of the total due loans. Meanwhile, the combined long-term loans reached SAR 2.51 billion, according to the board's reports.
The lenders are National Commercial Bank (NCB), Samba, Riyad Bank, Banque Saudi Fransi and Saudi Investment Bank.
STC's due loans amounted to SAR 2.6 billion, while those of Mobily reached SAR 2.56 billion.
Saudi Investment Bank has the biggest portion of the due loans reaching SAR 1.5 billion, followed by NCB (SAR 1.4 billion).
Translated by Abdul Maguid Aboshahla
