The report of the Saudi Arabian Monetary Agency (SAMA) revealed an improvement in key indicators in the Saudi economy. The data published by SAMA in the Financial Stability Report included non-performing loans to the construction, construction and trade sectors at 3.7% and 2%, respectively last year, while non-performing loans in the consumer sector remained at low levels below 1%.
SAMA said non-performing loan rates in the three sectors are still below their levels in 2012, due to improved overall exposures until late 2014.
The Financial Stability Report also showed that the ratio of provisions to non-performing loans rose to 177% last year, compared with 164% a year earlier.
Also Read
-
Economy, defense focus of tie-ups as May visits Saudi Arabia
Britain said on Wednesday it would help Saudi Arabia to diversify its oil-dependent economy as British Prime Minister Theresa May visited the Gulf ... Economy -
Saudi Arabia reportedly hiring PwC to advise on cost cutting
Saudi Arabia’s Ministry of Economy and Planning will be hiring the consulting firm to review $69 billion worth of of government contracts Economy -
Saudi Arabia seeks to help in global economy recovery: Al-Turaifi
Saudi Arabia would be seeking to contribute significantly in recovery of the global economy at the G20 Summit and will be a key participating member Economy
