With regard to developments in the banking sector, the SAMA Governor said that the sector, according to July month data, maintained the most good figures as the capital adequacy ratio reached 21% which is high and reassuring, the profitability of return on assets reached 2.1%, the return on equity reached 13.8%, the loan-to-deposit ratio reached 78% while the ceiling is 90% and the liquidity coverage rate reached 197%. while Basel Standard is 100%, adding that the ratio of non-performing loans increased from 1.5% to 1.8% while the coverage exceeded 190% which is high coverage. Dr. Alkholifey pointed out that consumer loans accounted for 24% of the loan portfolio in the banking sector. He added that the loans of all types will not be restricted and we encourage the real estate lending, lending to small and medium enterprises and so-called productive loans, which reach currently 77% of the lending volume which is good ratio, pointing out that SAMA has already taken steps to encourage lending and the individual financial instruments are one of the objectives of the Financial Sector Development Program and are currently under way by the Debt Management Office at the Ministry of Finance. With regard to the mergers of banks in the Kingdom of Saudi Arabia, he said that SAMA supports mergers if they will lead to the emergence of strong financial institutions, as they will serve the financial sector, develop and increase its strength and serve future requirements, especially with the growth of the economy and the increasing of structural changes to achieve the Kingdom Vision 2030. The SAMA Governor said that foreign remittances declined by 7% in the last two years, according to the latest data, adding that the forecasts indicate that the declines may continue but will not be significant and they are related to the presence of non-Saudi workers if many of them leave the country. With regard to the new licenses for banks, he said that the new branches have been licensed recently and some of these banks will operate before the end of the year, adding that there are three banks applied for licenses from the countries of the region. He pointed out that GDP during the first quarter recorded growth of 1.2% and the strong factor of this growth was the government sector. Dr. Alkholifey said that SAMA's relation to the Kingdom Vision 2030 is represented by the Financial Sector Development Program headed by Minister of Finance and the membership of SAMA and the Capital Market Authority. He added that there are 42 targets in this program, and SAMA has 16 programs specialized in financial technology, pointing out that SAMA will establish a financial academy in cooperation with the Capital Market Authority at the beginning of the next year and this academy will serve all financial sectors supervised by SAMA and the Capital Market Authority. --SPA 20:47 LOCAL TIME 17:47 GMT 0039 www.spa.gov.sa/w750434