Commercial banks’ claims on the private sector grew by SR10.96 billion ($2.9 billion) to reach SR1,956.29 billion ($521.54 billion) in August, according to data released by SAMA.
This rise represents a month-on-month increase of 0.56 percent, the figures revealed, with a quarterly growth rate of 3.33 percent.
Saudi central bank data also showed a SR2.10billion drop in commercial banks’ assets by — a 0.1 percent decline from July.
The assets were valued at SR3,116.64 billion in August, down from SR3,118.75 billion in July.
The quarterly growth rate was 2.6 percent in the second quarter of 2021.