Riyadh – Mubasher: Deposits at banks operating in Saudi Arabia inched down SAR 9.44 billion ($2.52 billion), or 0.6%, year-on-year to SAR 1.61 trillion in August, compared to SAR 1.619 trillion, Saudi Arabian Monetary Authority (SAMA) said on Thursday.
Time and saving deposits tumbled 12.2%, while SAMA’s deposits decreased by SAR 59.19 billion to SAR 425.51 billion in August, compared to SAR 484.7 billion during the same month in 2017, the Saudi central bank added.
SAMA further noted that deposits under demand increased by 2.8% year-on-year to SAR 1.016 trillion in August, compared to SAR 989.26 billion.
Saudi Arabia’s bank lending rose SAR 4.1 billion, or 0.3%, to SAR 1.417 trillion during August, from SAR 1.413 trillion in the corresponding month a year earlier.
Long-term credit grew to SAR 468.76 billion in August, from SAR 447.74 billion in the same month a year ago, while short-term credit inched up 0.01% to SAR 713.64 billion, compared to SAR 713.54 billion.
On the other hand, total value of medium-term credit fell 6.7% year-on-year to SAR 235.28 billion during August, from SAR 252.28 billion.
On a monthly basis, SAMA’s deposits inched up SAR 4.82 billion, or 0.3%, in August from SAR 1.605 trillion, while bank lending edged up SAR 3.63 billion, or 0.26%, from SAR 1.414. trillion.
