Middle East Economic Survey

VOL. LIII

No 1

4-Jan-2010

SAUDI ARABIA

Resilient Saudi Banking To Adopt Conservative Credit Cycle, NCB Says

The Saudi domestic banking system has shown resilience in 2009 and remained sound, liquid and profitable despite a slump in net profit growth, the National Commercial Bank (NCB) has said in its 2009 nine-month banking report. Though net profit growth decelerated to -7.3% year-on-year this year, the Saudi banking system has shown marked strength and relatively high...