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  • Banking and Finance
    Saudi banks face further deterioration in operating conditions

    The world’s leading credit rating agencies and banking sector analysts expect a further deterioration in the operating conditions of Saudi banks, leading to lower profits, a squeeze on funding and weakening asset quality across the sector.

  • Banking and Finance
    Saudi banks said to still be strong despite oil slump

    Saudi Arabian banks’ financial cushion and the government’s commitment to keep spending should enable them to weather a prolonged slump in oil prices, even though loan growth is slowing, Saudi British Bank (Sabb) said.

  • Ma'aden
    Saudi’s Ma’aden confirms $3 bln loan talks with banks

    The company said it was borrowing through its unit Maaden Phosphate Company (MPC), which produces ammonia and the fertiliser diammonium phosphate, in a 70/30 ownership split with petrochemicals giant Saudi Basic Industries Corp.

  • Banking
    Fitch revises outlook on four Saudi banks to Negative from Stable

    Fitch Ratings has revised the Outlooks on Al Rajhi Bank ( ARB ), National Commercial Bank (NCB), Riyad Bank (RB) and SAMBA Financial Group (SAMBA) to Negative from Stable.

  • Personal Banking
    Saudi banks raise purchase maximum on ATM card to approximately $16,000

    Speaking to Okaz/Saudi Gazette, sources at local banks said this is a positive step as it enables customers to make purchase of precious goods or bulk purchase by using their bank cards.

  • Banking
    Experts see positive outlook for Saudi banks

    Commenting on the S&P report, Ihsan Bu Hulaiga, a financial analyst, told Arab News: “There is no comparison between Saudi banks and their counterparts in other Gulf countries.” He said: “The Saudi market is large but the number of local banks is small. However, the market is stable recording a high rate of growth."

  • Saudi Banks
    Saudi banks to monitor ATM thefts by satellite

    Saudi banks will install satellite monitoring technology in automated teller machines (ATMs) to protect them against robbery and damage, according to Arabic daily Makkah.

  • Banking
    Saudi banks to report flat growth in first quarter

    As banks in Saudi Arabia have started reporting preliminary results for the first quarter of 2015, analysts expect weaker growth in assets and profitability both year on year and quarter on quarter basis.

  • Entrepreneurship
    Startups in Saudi Arabia get cold shoulder from banks

    Hasan al-Hazmi knew he couldn’t depend on Saudi Arabian lenders when opening his business last year even with the kingdom’s drive to boost credit to small- and medium-sized companies. “Banks are not lending to any startups without providing annual financial statements audited by licensed entities in Saudi Arabia,” said Hazmi, co-founder of Riyadh-based Supply & Logistics Solutions that started operations last year providing storage and cargo services. “How would I be able to provide a bank with statements if I just started?”

  • Finance
    Morgan Stanley, BofA Set to End U.S. Banks Saudi Drought

    Morgan Stanley and Bank of America Corp. are set to work on the first share sale in Saudi Arabia managed by a U.S. bank since 2008, as the largest stock exchange in the Middle East prepares to open to foreign investors.