https://arab.news/y6aaa
Saudi banks鈥� claims on the private sector increased by 2.1 percent in March, reaching SR2.13 trillion, according to a monthly report from the Saudi Central Bank, also known as SAMA.
The month-on-month rise is the highest since March 2021.
Bank claims 鈥� made mostly of loans, advances and overdrafts 鈥� is an important indicator of the economy鈥檚 health as it represents the amount of bank credit provided.
Bank claims on the private sector grew by SR43.8 billion from SR2.09 trillion in February.
The indicator has seen a steady monthly growth since July 2019.
Read more: Growth in 抖阴短视频鈥檚 net foreign assets resumed in March
At the same time, Saudi banks' claims on the government sector also grew in March by SR5.74 billion 鈥� a relatively modest increase of 1.0 percent month-on-month.
The share of claims on the government sector in banks鈥� total claims stood at 21.2 percent at the end of March 2022. It has remained relatively fixed, having varied within a range of 21-23 percent since January 2019 when it surpassed the level of 20 percent for the first time after reaching its lowest point on record of 6.3 percent in July 2015.
As for the banks鈥� total assets, it grew in March by SR71.4 billion to SR3.37 trillion. Total assets grew by 2.2 percent from SR3.30 trillion in February, according to data from SAMA.