Saudi Arabia: Total bank deposits up

Total bank deposits in Saudi banks registered an increase of 8.2 percent (Rls 39.6 billion) to Rls 521.5 billion during the first quarter of 2006, compared to a rise of 2.5 percent (Rls 11.6 billion) during the preceding quarter. At the end of the first quarter of 2006, it achieved an annual rise of 16.5 percent (Rls 73.7 billion). At the end of the first quarter of 2006, the ratio of total bank deposits to total broad money supply (M3) stood at 89.5 percent compared with 88.4 percent at the end of the same period of the previous year.