Riyadh – Mubasher: The Saudi banking sector’s retail loans increased 7.8% year-on-year and 0.2% quarter-on-quarter to SAR 343 billion in the third quarter of 2016, according to Aljazira Capital.
The research firm pinpointed that vehicles acquired the biggest portion of retail loans and accounted for almost 9.6% in Q3-16, followed by loans for home renovation financing, which accounted for 8.7% of the total.
Loans acquired through credit cards accounted for 3.32% in Q3-16, with a 3.26% rise in Q3-15, the report said.
Aljazira Capital's report noted that the corporate sector real estate loans advanced 14% year-on-year to 83.6 billion in the first half of 2016, compared to a 10% year-on-year rise in the retail loans to real estate sector.
