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FINANCIAL NEWS
Saudi money supply growth eases in February
01 Apr 2010
(MENAFN) The Saudi Arabian Monetary Agency (SAMA) said that the annual growth in the Kingdom’s M3 money supply slowed in February for a fifth straight month, Reuters reported.
M3 grew 5.6 percent in February year-on-year, down from 8.3 percent in January, due mainly to a near 10 percent drop in time and savings deposits, data published SAMA showed.
Inflation in Saudi Arabia accelerated to an annual 4.6 percent in February, its highest level since June and up from 4.1 percent in January after a rise in food costs.
SAMA said last month that housing will keep inflation rising during the first quarter but a stabilization in food prices will keep it below the 1.5 percent recorded in the previous quarter.
Meanwhile, profits generated by Saudi commercial banks, including the 11 listed ones, fell about 14.8 percent in the January-February period, central bank data showed ahead of first-quarter earnings announcements.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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