VOL. XLV
No 34
26-August-2002
SAUDI ARABIA
Saudi Banks Enjoy Another Good Year in 2001
The year 2001 sawhealthy growth for Saudi banks theMiddle Easts largest and most profitable banking sector as firm oil prices and attractive interestrate spreads combined to continue the strong growth of 2000 (MEES, 28 May 2001). The kingdoms banksall managed to post double-digit growth in profits in 2001 with the notableexception of al-Rajhi Banking and Investment Corporation, Saudi Arabias only fully Islamic...
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