Sunday, 17 October 2021 12:04 GMT

Number of banks' branches in Saudi Arabia drops by 95 to 1,969 in 2021

(MENAFN)According to official central bank data, Saudi banks are shutting down more branches Kingdom-wide even as these lenders give more loans for consumers.

The number of banks' branches in the Kingdom dropped by 95 to 1,969 in comparison to April-June period of 2020, when the number of branches stood at 2,064, showed the figures from the Saudi Central Bank (SAMA) monthly report.

This is a 4.6 percent decrease. At one go, the number of ATMs fell by 8.9 percent.

In the second three months of 2021, commercial banks that have more deposits this year than before, improved lending to individuals by 17 percent to SR394 billion. This trend was on the growth since second three months of 2019.

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