Saudi Arabia's banks have posted robust second-quarter earnings and analysts see upside for their stocks given attractive valuations, whereas p e trochemical stocks will be vulnerable following a sharp drop in oil prices.
Al Rajhi Bank, the Gulf's largest lender, posted a 13.6 percent jump in quarterly net profit and Samba Financial Group's profit rose 5.1 percent, both matching analysts' forecasts. [ID: nL6E8IA7FW] [ID: nL6E8IA7EZ]
Saudi banks are benefiting from the government's expansionary fiscal policy, ample liquidity and improving corporate loan demand.
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