The slowdown in deposit growth to 1 per cent in 2015 from 12 per cent in 2014 and the sharp decline in oil prices as wells as a 14 per cent reduction in the 2016 Saudi government budget are credit negative for Saudi banks, Moody's has said.
The impact of lower oil prices will soon start to weigh on Saudi Arabia's banks, which are likely to see bad loans edge higher by the end of the year, according to Standard & Poor's.
Lenders in the kingdom have so far
A return to an era of higher interest rates could derail attempts by Islamic finance to create alternatives to a short-term funding instrument that has dominated the industry, but which some scholars and regulators want to see replaced.
Saudi Arabia's central bank said its net foreign assets surged to a record high of SR2.688 trillion ($716.7 billion) in December, up 10.7 per cent from a year ago
The kingdom's central bank said the M3 money supply growth slowed
Saudi banks should continue to see strong performance, with ample opportunities for lending provided by a favourable economic outlook, according to a new report.
The prospects for Saudi Arabia’s economy are strong due to hig
The vital role of Saudi banks is one of the main themes to be discussed at the upcoming Saudi International SME Forum in Riyadh.
The event is set to be held on May 28 and 29 at the Four Seasons Hotel.
Saudi banks ar
Saudi Hollandi Bank and Saudi British Bank (SABB) beat estimates for first-quarter net profit, with both lenders attributing the growth in earnings to higher operating income.
SABB, Saudi Arabia's fourth-largest listed bank, s
Saudi banks are set to deliver double-digit earnings growth for the next three years, owing to higher credit volumes and cost of risk leverage, which could accelerate further should monetary policy tighten, according to a new study.
Saudi Banks, a committee of various banks in Saudi Arabia, has launched its fourth anti-fraud campaign under the title, ‘Do not disclose it’ which is aimed to educate its customers and the general public of the different fraud operations
Saudi Arabia's central bank is not interested in buying distressed or speculative assets such as troubled European debt and gold and the Opec member's banks are well positioned to withstand the euro zone crisis, its head said.