In April 2016, Saudi Arabia announced the Vision 2030 national reforms aimed at diversifying the economy and expanding credit to non-oil industry activities. Although the government designed these reforms to encourage banks to increase lending, the expectation is that these banks will also maintain their financial stability. This balance becomes increasingly complex during credit expansion driven by policy reform. To assess the success of these dual expectations, this study examines how liquidity management has affected loan growth in Saudi banks pre- and post-Vision 2030 implementation. To that end, it investigates whether the relationships among cash reserves, deposit utilization, and lending behavior have altered. Analyzing quarterly data from 10 Saudi banks between 2013 and 2019 (three years before and after the Vision 2030 implementation), the study employs a random-effects panel regression model with cluster-robust standard errors, using Stata and SPSS to examine the interactions between liquidity ratios and Vision 2030. The results reveal that the Cash-to-Deposit (CTD) ratio maintains a significantly negative relationship with loan growth throughout the study period, with no significant change in the interaction term—pre- and post-Vision 2030, Saudi banks continue to prioritize cash buffers to ensure liquidity safety. However, the effect of the Loan-to-Deposit (LTD) ratio on loan growth does shift from negative to positive following the reforms, indicating a successful transformation to improved deposit-to-loan efficiency. Overall, the findings suggest that the Vision 2030 financial reforms have improved Saudi bank lending efficiency without negatively impacting liquidity management.