JEDDAH: Saudi Arabia's M3 money supply growth slowed to 10.9 percent year-on-year at the end of December from 13.5 percent in the previous month, Saudi Arabian Monetary Agency (SAMA) data showed on Thursday.

Bank lending growth to the private sector also decelerated to 12.5 percent in December, the weakest clip since February 2012, from 13.8 percent in November.

The central bank's net foreign assets climbed to a record high of SR2.688 trillion ($716.7 billion) in December, up 10.7 percent from a year ago.