Saudi monetary update (July 2013): Flat deposits, but higher credit

Based on data released recently by SAMA on the Saudi monetary indicators for the month of July, we highlighted a number of key updates in this report. Net credit issued to the private sector maintains positive momentum while growth of consumer lending recorded an all-time high. Loan-to-deposit ratio rises to 82.5 percent as total deposits remain flat. Money supply growth maintains a double digit growth and foreign assets continue to rise on the back of higher oil revenues.