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Bank lending growth picks up in Kingdom
(MENAFN- Arab News) RIYADH: Growth in Saudi Arabia's bank lending to the private sector edged up to 12.2 percent year-on-year in August from a three-month low of 11.8 percent in the previous month central bank data showed on Wednesday.
Money supply (M3) growth accelerated to an annual 14.5 percent in August the fastest growth since July 2013 from 13.2 percent in the previous month.
The central bank's net foreign assets rose to a record high of SR2.764 trillion ($736.9 billion) in August from SR2.747 trillion in July. They were up 6.7 percent from a year ago the slowest growth since May 2010.
Money supply (M3) growth accelerated to an annual 14.5 percent in August the fastest growth since July 2013 from 13.2 percent in the previous month.
The central bank's net foreign assets rose to a record high of SR2.764 trillion ($736.9 billion) in August from SR2.747 trillion in July. They were up 6.7 percent from a year ago the slowest growth since May 2010.
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