Dammam is the homeland Total bank deposits during the fourth quarter of 2023 amounted to about 2.4 trillion riyals, as total bank deposits increased annually by 7.8%.
A recent report by the Central Bank of Saudi Arabia indicated that during the fourth quarter of 2023, demand deposits recorded an annual and quarterly decline of about 1.2% and 1.4%, respectively, to reach 1,312.3 billion riyals. Time and savings deposits achieved an annual and quarterly increase of about 32.0% and 6.5%, respectively, to reach about 864.1 billion riyals, as a result of the rise in interest rates. In contrast, other semi-cash deposits achieved an annual and quarterly decline of about 4.9% and 5.3%, respectively, to reach 297.1 billion riyals.
Bank credit Bank credit provided to the private and public sectors during the fourth quarter of 2023 recorded an annual and quarterly increase of 10.0% and 1.6%, respectively, to reach 2,583.7 billion riyals. Bank credit provided to the private sector increased on an annual and quarterly basis by about 9.7% and 1.6%, respectively, to reach about 2,437.0 billion riyals. Bank credit provided to the public sector also increased on an annual and quarterly basis by about 14.7% and 1.1%, respectively, to reach about 146.7 billion riyals.
Real estate and consumer loans At the end of the fourth quarter of 2023, real estate loans recorded an annual and quarterly increase of approximately 11.5% and 2.7%, respectively, to reach 767.3 billion riyals, thus constituting 29.7% of total bank credit. In contrast, total consumer loans decreased in the fourth quarter of 2023 on an annual and quarterly basis by 2.2% and 0.6%, respectively, to reach about 441.8 billion riyals, thus constituting 17.1% of total bank credit. In addition, credit card loans during the fourth quarter of 2023 recorded an annual and quarterly increase of 17.3% and 2.2%, respectively.
Value of bank deposits, fourth quarter 2023 = 2.4 trillion riyals Annual growth rate = 7.8%. Demand deposits = 1,312.3 billion riyals. Annual growth= -1.2% Quarterly growth = -1.4% Time and savings deposits = 864.1 billion riyals Annual growth = 32.0% Quarterly growth = 6.5% Other semi-cash deposits = 297.1 billion riyals Annual growth= -4.9% Quarterly growth = -5.3% Bank credit, fourth quarter 2023 = 2.5 trillion riyals Annual growth = 10.0%
Quarterly growth = 1.6% Bank credit provided to the private sector = 2.4 trillion riyals Annual growth = 9.7% Quarterly growth = 1.6% Bank credit provided to the public sector = 146.7 billion riyals. Annual growth = 14.7% Quarterly growth = 1.1% Real estate and consumer loans = 767.3 billion riyals Annual growth = 11.5% Quarterly growth = 2.7% Consumer loans = 441.8 billion riyals Annual growth = 2.2% Quarterly growth = 0.6%
Credit card loans= Annual growth = 17.3% Quarterly growth = 2.2%