Saudi commercial banks’ credit to the private sector rose by SR12.7 billion ($3.4 billion) in November when compared to the previous month, Saudi Central Bank data showed. In percentage terms, however, the increase was a marginal 0.6 percent. Additionally, financing provided by banks to government and quasi-government institutions was SR21.9 billion, or 4 percent, higher in November. Saudi commercial banks’ holdings of net foreign assets were down by 0.17 percent, reaching SR47.8 billion. Assets due from branches abroad, foreign investments and other overseas assets were all up in November. The only foreign assets that went down during the month were those due from banks abroad. The monthly rise in non-native liabilities, which prompted the drop in net foreign assets, was estimated at 6.3 percent, with amounts due to overseas banks driving the increase. Meanwhile, the banks’ total assets jumped by 1.3 percent, to be valued at SR3.24 trillion by the end of November. Looking at bank lending by maturity terms, the data revealed that both medium and long-term credit went up, rising by 4.9 percent and 3.5 percent, respectively. On the other hand, short-term financing slipped by 1.3 percent. At the end of November, long-term lending made up almost half of the credit provided. Short and medium-term funding accounted for 37.4 percent and 12.7 percent, respectively