banking sector

Loans by Saudi Arabia’s banking sector increased to SR2.72 trillion ($726.44 billion) in May, marking an annual 11.14 percent rise, official data showed. Data released by the Saudi Central Bank, also known as SAMA, showed that corporate…
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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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Global banking firm Mizuho Financial Group has begun the process of establishing its regional headquarters in Riyadh by submitting an application to the Kingdom’s Ministry of Investment. The Tokyo-based company confirmed that it has…
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Russians on Thursday reported some problems with processing payments at major banks after a distributed denial-of-service (DDoS) attack on Russian banks, Russia’s Kommersant newspaper reported. At least one Russian bank was telling…
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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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Saudi banks’ real estate loan portfolios reached SR800.5 billion ($213.5 billion) in the first quarter of 2024, a 13 percent increase from the same period last year, the latest official data showed. Figures released by the Saudi Central…
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Saudi banks exceed their Gulf Cooperation Council counterparts in terms of risk profiles underpinning their asset quality, according to Fitch Ratings. The credit rating agency said in a statement that there is a strong correlation…
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Saudi banking sector’s loans increased to SR2.68 trillion ($715.56 billion) in April, marking an 11 percent increase compared to the same month in 2023, official data showed. Figures released by the Saudi Central Bank, also known as…
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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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