Saudi SAMA says loan growth, inflation tolerable| MENAFN.COM

Monday, 08 August 2022 04:07 GMT

Saudi SAMA says loan growth, inflation tolerable


(MENAFN) Fahad al-Mubarak, governor of the Saudi Arabian Monetary Agency, said he was not worried about current bank lending growth rates, adding that inflation is still under control, Reuters reported. He also said that loans to deposits were now about 75 percent, while SAMA caps the ratio at 85 percent. Bank lending to the Kingdom's private sector slowed to 15.9 percent in January, compared to 16.4 percent increase in December 2012. Inflation edged up to 4.2 percent in January compared to a year ago, but Mubarak assured that the current inflation level is tolerable compared to other emerging markets. He also said that inflation is expected to stand at 4.6 percent this year and 4.3 percent in 2014, citing the International Monetary Fund (IMF).


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