Out of the top 50 banks in the Middle East ranked by assets for the period H1 2011, Saudi banks lead the pack “having a good track record of maintaining strong asset quality and adapting adequate lending practices and underwriting standards,” Sheetal Kothari, research analyst, business and financial services practice, Frost & Sullivan, said.
The Gulf Business Top 50 Banks in the Middle East report said “Saudi Arabia’s traditionally conservative fiscal polices coupled with the billion-dollar government budget, has buoyed the banking sector with four out of the five top ten banks being based in the Kingdom.”
Saudi Arabia is one of the world’s fastest growing banking markets.
