Saudi banks in November 2005 slowed down after a period of heavy spending during Ramadan and Eid Al-Fitr. According to Arab News, the banking climate in November was also affected by the decision of SAMA (Saudi Arabian Monetary Agency) to cut the amount given as personal loans by commercial banks.
However, assets of Saudi banks increased in the said period.
the consolidated balance sheet of Saudi commercial banks showed an overall rise of 1.7 percent of total assets,rising from SR735 billion ($196 billion) in October to SR748 billion ($199 billion) in November.
