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Saudi government boasts SR1.6 trillion of external assets

Saudi Arabia: Wednesday, December 17 - 2008 @ 13:35

The Saudi Arabia Monetary Agency’s (Sama) external investment has also risen by 0.6% to SR1.172 trillion compared to SR1.165 trillion at the end of September.

Sama’s assets in foreign banks also rose from SR354.1bn by the end of September to SR373.2bn by the end of October.

The investment by Saudi banks also registered a remarkable growth, rising from SR67.06bn by the end of September to SR68.6bn by the end of October – an average growth of 2.2%.

These investments reached their peak at the end of August 2007 when they topped SR97.7bn, while they reached their lowest rate in March 2008 when they stood at SR2.6bn, the lowest since 1975.

Foreign demands on Saudi banks

Foreign demands at Saudi banks fell from SR142.1bn at the end of September, to SR123.04bn by the end of October, going down by 13.4%.

Demands on commercial banks by the private sector rose to SR737.6bn by the end of October compared to SR728.3bn by the end of September.
Demands on commercial banks from the government and semi-government sector rose to SR249.5bn in October, compared to SR234.03bn in the last months.

Medium term credit up to SR103.7bn

It was noticed that medium term credit rose from SR103.7bn at the end of September to SR104.06bn by the end of October, while short term credit rose from SR456.7bn by the end of September to SR464.8bn by the end of October.

Meanwhile, long term credit declined from SR179.188bn at the end of September to SR179.140bn by the end of October.

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Wednesday, December 17- 2008 @ 13:35 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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