Riyadh – Mubasher: Saudi bank deposits hiked by 9.4% last July to reach SAR 1.837 trillion, compared with SAR 1.679 trillion in July 2019, according to data from the Saudi Arabian Monetary Authority (SAMA).

Likewise, demand deposits signalled a 12.89% year-on-year (YoY) rise in July 2020 at SAR 1.208 trillion, saving and time deposits grew by 2.8% YoY to SAR 443.2 billion, while other quasi-money deposits rose 4.1% yearly to SAR 185.58 billion.

Month-on-month (MoM), bank deposits edged down 0.35% or SAR 6.38 billion.

Bank credit posted a 13.2% YoY surge last July to stand at SAR 1.686 trillion, compared to SAR 1.489 trillion in July of last year.

The credit-deposit ratio reached 91.78% in July 2020 while exceeding 90% in the second quarter (Q2) of 2020 at 90.72%.