Saturday 23 June 2018

Saudi foreign assets soar to record $716bn

Riyadh, February 1, 2014

Saudi Arabia's central bank said its net foreign assets surged to a record high of SR2.688 trillion ($716.7 billion) in December, up 10.7 per cent from a year ago

The kingdom's central bank said the M3 money supply growth slowed to 10.9 per cent year-on-year at the end of December from 13.5 per cent in the previous month, stated the data.

The bank lending growth to the private sector also decelerated to 12.5 per cent in December, the weakest clip since February 2012, from 13.8 per cent in November, it added.-Reuters

Tags: lending | Saudi Banks |

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