RIYADH – The volume of consumer loans given by Saudi local banks rose by 22 percent to reach SR321 billion in the second quarter of the current year compared to the same period last year, latest data from SAMA (Saudi Arabian Monetary Agency) showed. Consumer loans capture nearly 80 percent of Saudi local banks' retail loan portfolio. Loans given to purchase car and equipment rose to SR61.8 billion while loans for real estate stood at SR41.47 billion, SAMA report noted. The volume of consumer loans in the first quarter stood at SR307.4 billion. Meanwhile, loans for credit cards dropped by 2 percent in the second quarter to reach SR7.7 billion compared with SR7.8 billion in the same period last year, the report said. On the other hand, SAMA assets continued growth and registered SR2.59 trillion by the end of the second quarter compared to SR2.26 trillion in the second quarter of last year, it noted. The consolidated financial position of the commercial banks in the Kingdom also rose to SR1.8 trillion in the second quarter from SR1.61 trillion in the same period last year, the report said. Customer deposits at Saudi banks also rose in the second quarter of the current year to reach SR1.32 trillion compared to SR1.16 trillion in the same period last year, according to the report. — SG
