Saudi cbank reviewing requests of four banks looking to branch out

The Saudi Arabian Monetary Authority (SAMA) is studying requests of four regional banks to open new branches across the Kingdom, SAMA Governor Ahmed Al-Kholifey told Al Arabiya TV.

“Liquidity indicators monitored by SAMA are positive. Lending activity is also much better this year, when compared to 2017, particularly on the corporate loan level,” he said on the sidelines of the Future Investment Initiative (FII) 2018 conference.

Meanwhile, consumer loans dropped to 23 percent from 25 percent.

Saudi nationals’ remittances to other countries were normal over the last two weeks, he added.

Al-Kholifey also ruled out seizures on assets of people, proved to have no link with corruption charges.

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