Saudi bank loans up 122 to SR1.2 trillion in 2014

(MENAFN- Arab News) Loans of Saudi banks grew by 12 percent to SR1.2 trillion by the end of 2014 whereas bank deposits rose by 11 percent to hit SR1.58 trillion according to a financial report.Loans of the National Commercial Bank (NCB) and Al-Rajhi Bank represented more than one-third of loans provided by all banks in 2014 the report filed by Al-Eqtisadiah daily said.Loans of the NCB stood at SR220.7 billion or 18 percent whereas loans provided by Al-Rajhi Bank reached SR205.9 billion or 17 percent of the total loans. Meanwhile share of Riyad Bank to the overall loans stood at 11 percent as contribution of Samba Financial Group (SFG) Banque Saudi Fransi (BSF) and Saudi British Bank (SABB) reached 10 percent for each the report said.On the other hand the ratio of credits (loans) to deposits (CTD) reached 77 percent by the end of 2014 with no change compared to figures of 2013. Loans in 2013 stood at nearly SR1.08 trillion compared to deposits of SR1.42 trillion the report said.