Data released by the Saudi Arabian Monetary Authority for the second quarter of 2016 showed an 1% decline in mortgage loans compared to the first quarter of this year, reaching approximately 191.8 billion riyals.
SAMA data indicated that the value of loans granted to individuals reached approximately 108.2 billion riyals, an increase of 2 % compared to the previous quarter, when it stood at 106.3 billion riyals.
Loans granted to companies in the second quarter totaled 83.6 billion riyals, down by approximately 4 % compared to the first quarter of 2016.
The Saudi Arabian Monetary Authority (SAMA) first disclosed data on real estate loans granted by banks operating in Saudi Arabia to individuals and companies in its quarterly bulletin for the fourth quarter of 2013.
Regarding consumer loans, the SAMA report showed that they rose by 1% by the end of the second quarter of this year compared to the previous quarter, reaching 343.07 billion riyals.
In addition to loans for the renovation, improvement, and furnishing of real estate, consumer loans include car and equipment loans, as well as consumer loans for education, health, tourism, travel, furniture, durable goods, and other loans. SAMA had previously listed an item titled "Real Estate Financing" under consumer loans; this item’s name was changed to “Real Estate Renovation, Improvement, and Furnishing” without any significant changes to the amount.
Credit card loans rose slightly by the end of the second quarter of 2016 to reach 10.34 billion riyals, compared to the first quarter, when they stood at 10.33 billion riyals.
