Banking

A robust oil and gas sector, high interest margins, and fintech innovation will help drive banking sector growth across the Gulf Cooperation Council region in 2024 and beyond, according to a new report. Analysis by global management…
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High oil prices and interest rates are creating favorable operating conditions for banks across the Middle East, despite regional tensions, according to Fitch Ratings. During a recent webinar on the region’s banking sector, Fitch Ratings…
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Oman’s banking sector experienced a 2.9 percent rise in total credit, reaching 30.8 billion Omani rials ($80 billion) by the end of March, official data showed. In its monthly review of banking and monetary developments, the Central Bank…
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Saudi Arabia’s embracing of open banking has transformed the region’s financial ecosystem, according to a top fintech CEO. In an interview, Abdulla Al-Moayed, head of Tarabut, praised the Kingdom’s central bank for its inclusive…
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Net profit of banks in the Gulf Cooperation Council region surged by 10.5 percent year-on-year in the first quarter of 2024 to $14.4 billion, an analysis showed. In its latest report, Kamco Invest said that the bottom line performance of…
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Saudi Arabia is home to a third of Forbes Middle East’s “30 Most Valuable Banks,” with a 25 percent annual rise in the Kingdom’s entities’ accumulative market value. The 10 Saudi entries on the list — the same number as in the 2023…
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Saudi Arabia’s Riyad Bank has approved the assessment and preparation of an initial public offering of its investment banking unit, Riyad Capital. According to a Tadawul statement, the board of directors are considering listing the…
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Top Saudi banks demonstrated strong performances in 2023, with operating income growing by 9.5 percent, driven by non-interest revenue, according to professional services firm Alvarez & Marsal. The results of A&M’s fourth annual…
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Moody’s Investors Service has retained a positive outlook for Saudi Arabia’s banking sector thanks to the Kingdom’s economic diversification programs. In its latest report, the US-based credit rating agency said the demand for credit for…
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The financial system in the UAE is more secure and efficient than ever before thanks to the widespread implementation of technology, according to the country’s central bank. In its report for the fourth quarter of 2023, the institution…
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