Saudi bank loans reached SR2.82 trillion ($753.27 billion) in August, representing an annual growth rate of 12.11 percent — the highest in 18 months, according to recent data.

Figures from the Saudi Central Bank, also known as SAMA, showed that corporate lending dominated the sector, making up around 54 percent, with individual loans comprising the remaining figure.

The former category grew by 16 percent, outpacing the 7.56 percent growth in personal loans, underscoring the increasing demand for business financing across key sectors.

Real estate activities led corporate lending, accounting for 20.1 percent of all business loans and growing by 26.37 percent to reach SR303.48 billion.

The wholesale and retail trade sector followed, constituting 13.3 percent of these loans, with SR201.3 billion in financing. Lending to manufacturing came third, making up 11.8 percent, totaling SR179.1 billion.

Source: ARABNEWS