Saudi banking assets grew by 14% in 2012 | Arab News

Saudi banking assets grew by 14% in 2012 | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:

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The domestic banking system in Saudi Arabia relative to many of the global peers, developed or developing, had maintained its inherent strengths that emanate from greater reliance on core banking activities, lower non-performing loans (NPLs) ratio, little recourse to wholesale funding and ample liquidity.
During the last two years, Saudi banks have returned to a higher growth trajectory after a lackluster performance in 2009 that saw total credit and in turn profitability shrink on an annual basis by 1.1 percent and 0.2 percent, respectively.
The inflection to double-digit net income growth that started in Q2, 2011 aided banks in crossing the SR35 billion threshold in 2012 for the first time since 2006, according to a report by the National Commercial Bank (NCB)."

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