FINANCIAL NEWS

Growth in Saudi bank lending slows in Feb

30 Mar 2017

(MENAFN) Growth in Saudi Arabian bank lending almost slowed in Feb, with firms holding back from investment in the face of low oil prices and concern over government policies.

Moreover, bank lending to the private sector showed year on year increase of 0.3 percent in the cited month, slowing from 1.8 percent in Jan and down from 10 percent posted in 2016.

Additionally, the lack of government payments forced firms to draw on credit facilities for operating funds, inflating loan growth.

However, net foreign assets at the central bank dropped by USD9.8bn from the previous month to USD506.9bn, their lowest level since August 2011.

MENAFN3003201700450000ID1095354895

MENAFN3003201700450000ID1095354895

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more

This site is registered on wpml.org as a development site.