Riyadh – Mubasher: Deposits at banks operating in Saudi Arabia increased by 3.7% year-on-year or SAR 60.4 billion in July.

Total deposits amounted to SAR 1.679 trillion by the end of July, from SAR 1.619 trillion in the same month a year earlier, the Saudi Arabian Monetary Authority (SAMA) said.

Month-on-month, Saudi Arabia’s bank deposits decreased by 0.7%, or SAR 12.09 billion, by the end of July.

Demand deposits reached SAR 1.07 trillion in July, accounting for 63.7% of total deposits.

Time and savings deposits went up by 0.7% recording SAR 431.25 billion in July, while quasi-monetary deposits hit SAR 178.2 billion during the same period.

As for the kingdom’s bank lending, it jumped by 3.8% year-on-year to SAR 1.489 trillion by the end of July.

On a monthly basis, loans inched up by 0.8% to SAR 1.477 trillion in July.

The long-term loans levelled up by 14.1% to SAR 541.43 billion during July, versus SAR 474.46 billion in the same period of the prior year.

Meanwhile, short-term facilities inched up 0.07% year-on-year to SAR 721.77 billion in July.

Medium-term credit also fell by 5.2% to SAR 225.96 billion in July, against SAR 238.39 billion in the corresponding period last year.