Banking

Banking

STANDARD CHARTERED LOOKS AT SAUDI LICENSE Standard Chartered is reported to be in talks with regulators in Saudi Arabia to understand the requirements to get a license to open branches in the Kingdom. The lender already has a license from the...


Banking

Positive outlook for Saudi banks as liquidity improves

Saudi Arabia has one of the top five banking systems in the world, according to finance minister Mohammed Al-Jadaan, speaking at a recent seminar. And with liquidity finally returning to the banking system as oil prices improve and public sector...


Banking

Saudi Islamic banks expected to buck downwards trend

Despite expectations of declining profitability from Gulf Islamic banks in 2017-18, Saudi institutions are expected to buck the trend due to their focus on corporate lending and SME support. “We expect the slowdown at Islamic banks in the GCC...


Banking

Banking

CREDIT AGRICOLE SELLS Saudi Fransi STAKE Credit Agricole Corporate & Investment Bank (CACIB) has agreed to sell a 16.2% shareholding in Banque Saudi Fransi to Kingdom Holding Company (KHC). The shares will be sold to KHC at SAR29.5 (US$7.86)...


Banking

Islamic banks benefit as profits are squeezed by reduced public spending

Retail banking and Islamic mandates are proving to be key strengths in the current climate for banking in Saudi Arabia, as corporate activities come under pressure from tightened lending, lower fees and muted credit growth. With Saudi’s banking...


Banking

Banking

SABB PAYS DIVIDENDS Saudi British Bank (SABB), which provides Islamic finance and banking solutions, has paid dividends to shareholders for the first half of 2017, with effect from the 17th August. The bank has allocated SAR1.07 billion (US$285.17...


Banking

The results are in: A mixed bag for Saudi banks in the first half of 2017

As we emerge from the first six months of a turbulent 2017, first half results are coming in from Saudi’s banks - and they reflect the ups and downs of the past year. While many of the Kingdom’s Islamic banks look to have built on their...


Banking

Banking

AL RAJHI BANK REPORTS RESULTS
Al Rajhi Bank, a fully-fledged Islamic bank, reported a net profit amounting to SAR4.4 billion (US$1.17 billion) for the first half of the year compared with SAR4.07 billion (US$1.08 billion) a year before,...


Banking

Banking

BANKS PICK ADVISORS FOR MERGER Saudi British Bank has selected Goldman Sachs for the Alawwal merger. Alawwal, which is 40% owned by Royal Bank of Scotland, has selected JPMorgan as its adviser on the deal, according to Reuters.


Banking

Strong banking sector performance following MSCI inclusion

The banking sector in Saudi Arabia was up last month on the anticipation of an expected rate hike from the US Federal Reserve, which would in turn equate to higher net interest margins and better liquidity for Saudi banks. This could mean good news...