Saudi consumer loans rise to SR 292bn

Consumer loans granted by Saudi banks in 2012 rose to SR 292 billion, indicating an increase of 21 percent compared to 2011 when the amount was pegged at SR 242.24 billion, the Saudi Arabian Monetary Agency has said.“Loans given for purchasing cars and equipment rose to SR 57.4 billion against SR 49.4 billion in 2011, while credit given for purchasing real estate rose to SR 38 billion from SR 29.3 billion.”There was an increase in the number of bank branches from 1646 in 2011 to 1696 last year. Riyadh has the largest number of bank branches recorded at 506, followed by Makkah region with 384 branches, the Eastern Province has 320, Qassim 107, Asir 106 and Madinah 78. The Northern Border Province has the lowest number branches with 14.The report showed an increase in the number of ATMs operating in the Kingdom by the end of December 2012 from 11,766 to 12,712.Moreover, banks issued a total of 16.44 ATM cards last year. source : Arabnews