Commercial banking has undergone tremendous growth during the course of the country's development. There are now nine commercial banks, with branches all over the Kingdom. The rapid expansion of deposits has allowed the banking system to take on a leading role in marshalling Saudi financial resources to fund the expanding activities of the private sector. Since 1990, some Saudi banks have as much as tripled their domestic loan portfolios, and by the end of 1998, the total amount of bank claims on public and private sectors had reached 71.47 billion U.S. dollars. The Kingdom's financial and monetary policies have maintained stable domestic prices, and stable exchange rates for the national currency (riyal). The banking sector continues to enhance its financial ability, with overall capital and reserves increasing by almost five percent in 1999.