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FINANCIAL NEWS
Consumer loans rise 22 percent in Saudi banks
25 Sep 2013
(MENAFN) Saudi Arabian Monetary Agency SAMA reported that the volume of consumer loans hit USD85.5 billion during the second quarter of this year, Saudi Gazette reported.
Consumer loans comprised 80 percent of Saudi local banks’ retail loan portfolio.
The report added that loans for buying cars and equipment increased to USD16.4 billion. Loans related to real estate reached USD11 billion.
In the first quarter, consumer loans were at USD81.9 billion. Meanwhile, loans for credit cards went down by 2 percent during the second quarter to USD2.05 billion compared with USD2.07 billion in the prior-year period.
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