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FINANCIAL NEWS
Saudi Arabia reports 16% rise in April bank credit
30 May 2013
(MENAFN) Jadwa Investment announced that Saudi bank credit jumped by 16 percent in April, from 15.4 percent in March, reported Emirates 24/7.
Jadwa added that high public spending is projected to continue to boost credit growth through 2013.
The Riyadh-based company said that year-to-date, bank credit rose by 5.1 percent last month from 5.6 percent in 2012’s same period, meanwhile, in nominal terms, net credit issued year-to-April grew to USD13.06 billion from USD12.23 billion.
It is worth noting that year-to-April, total claims on the private sector went up by 5.6 percent, while from 2012’s same period, they climbed by 16 percent.
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