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FINANCIAL NEWS
Saudi CB reports USD47.99b increase in 2012 banks’ assets
20 Feb 2013
(MENAFN) The Saudi Arabian Monetary Agency (SAMA) announced that assets of the country’s banks hit a record high of USD462.3 billion at the end of 2012, reported Emirates 24/7.
The central bank said that the figure shows an increase of USD47.99 billion from the USD411.6 billion posted a year earlier.
It added that profits of banks in the Kingdom rose by around 8.4 percent in 2012 to USD8.93 billion from USD8.23 billion in 2011.
It is worth noting that credit to the private sector grew by around USD37.59 billion to nearly USD266.35 billion, while loans to the government and semi government establishments increased to USD58.65 billion from USD55.72 billion, according to SAMA.
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