Saudi Arabian banks to outperform GCC peers in 2018, Moody's says - The National

Saudi Arabian banks to outperform GCC peers in 2018, Moody's says - The National:

"Profits at Saudia Arabian banks will outperform their GCC peers this year as the economy improves on greater government spending and higher interest rates boost net interest margins, according to Moody’s Investors Service.

“Saudi banks’ profitability improved in 2017 despite a challenging environment and a decline in lending,” analysts at Moody’s, led by Olivier Panis, said on Tuesday.

“We expect their profitability to remain broadly stable at this level in the next 12-18 months thanks to higher interest rates, a gradual pick-up in credit growth and fee-based income. We also expect Saudi banking system’s profitability to remain above GCC peers.”"



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