Saudi Gazette - High Saudi loan growth sustainable, says SABB

Saudi Gazette - High Saudi loan growth sustainable, says SABB:

"High loan growth to the private sector in Saudi Arabia is likely to continue in the next two to three years as government spending supports a surging economy, Saudi British Bank (SABB) Managing Director David Dew told Reuters.

According to central bank data, bank lending to the private sector was up 15 percent in August against the same period in 2012, growth that will likely push SABB to raise its own capital as it loan book grows, Dew said.

“We do see that range (of loan growth) in the mid-teens as sustainable over the next two-three years because of the underlying growth of the economy and government revenues,” he said in a rare interview with a head of a Saudi bank."

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