Riyadh – Mubasher: Financing institutions in Saudi Arabia provided SAR 1.806 trillion in loans to non-financial governmental bodies and the private sector during October 2020.

This represents a 15.6% yearly growth, also a record high, when compared to SAR 1.56 trillion in October 2019, as shown by data from the Saudi Central Bank (SAMA).

Loans offered to non-financial governmental bodies hiked by 27.7% year-on-year (YoY) in October to stand at SAR 70.38 billion, whilst grew by 6.76% on a monthly basis.

In the meantime, the kingdom’s private sector secured SAR 1.7 trillion worth of loans in October, signalling their highest level ever. The loans hiked by 15.2% annually and by 0.75% monthly.