The banking system is expected to soften the pace of credit to avoid overheating their balance sheets, the National Commercial Bank (NCB) said in its “Saudi Economic Review” for this month.
It said the pace of credit will slightly moderate during 2013.
However, deposits in the Saudi financial system are more than adequate to accommodate the rising credit market and its potential, it noted.
The depositary base of Saudi banks has reached SR1.27 trillion during January, according to the latest SAMA bulletin, a rise of 13.7 percent over the same month last year.
Representing the largest portion of deposits, demand deposits have increased their share to 60.2 percent by an annual gain of 15.5 percent.
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