Sama: Saudi banks foreign assets up SR45bn

According to figures by the Saudi Arabian Monetary Agency (Sama), banks in the kingdom witnessed a sharp growth in foreign assets and a drop in liabilities, Emirate Business has reported. Banks' investments abroad grew by more than SR45bn through most of 2009 to offset waning domestic credit and the absence of government bonds, while their foreign liabilities dipped by nearly SR4bn in the same period, and most of the decline was in dues to foreign banks and to other parties, the data showed.