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Growth in Saudi bank lending slows in Feb
(MENAFN) Growth in Saudi Arabian bank lending almost slowed in Feb, with firms holding back from investment in the face of low oil prices and concern over government policies.
Moreover, bank lending to the private sector showed year on year increase of 0.3 percent in the cited month, slowing from 1.8 percent in Jan and down from 10 percent posted in 2016.
Additionally, the lack of government payments forced firms to draw on credit facilities for operating funds, inflating loan growth.
However, net foreign assets at the central bank dropped by USD9.8bn from the previous month to USD506.9bn, their lowest level since August 2011.
Moreover, bank lending to the private sector showed year on year increase of 0.3 percent in the cited month, slowing from 1.8 percent in Jan and down from 10 percent posted in 2016.
Additionally, the lack of government payments forced firms to draw on credit facilities for operating funds, inflating loan growth.
However, net foreign assets at the central bank dropped by USD9.8bn from the previous month to USD506.9bn, their lowest level since August 2011.
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