Net income at Saudi banks passed $5.7bn last year, according to Fitch Ratings
saudi banking
Latest in saudi banking
Capital Markets
Saudi banks eye global capital markets for Vision 2030 growth funding: S&P
Banks are also poised for stable profitability in 2025 on stronger credit growth
digital banking
Saudi Arabia approves licence for D360 digital bank
D360 Bank given approval to launch operations in Saudi Arabia
saudi banking
Saudi SMEs: banks and financiers granted $73bn of facilities in past 6 years
Saudi banks and financiers delivered $73bn of support to SMEs in six-year span
Economic activity
Saudi Arabia’s high energy prices, tourism fuel banking sector in 2022: Report
Saudi Arabia’s Vision 2030 initiative also contributed to the sector’s growth
financial institutions
Saudi state bank signs new deals to support small businesses in the kingdom
The agreements included a framework cooperation agreement with Bpifrance, the French public investment bank, the Small Industries Development Bank of India (SIDBI), and the Industrial Bank of Korea
Alvarez & Marsal
How top banks in Saudi Arabia delivered ‘blockbuster’ profits during Q1
Alvarez & Marsal’s Saudi Arabia Banking Pulse for Q1 reveals strong earnings compared to the fourth quarter of 2020
Roman Rybalkin
Saudi banks set to outperform their regional peers in 2021-2022
Roman Rybalkin, CFA, Associate Director at S&P Global Ratings, says strong capitalisation, conservative regulation and government stimulus will support the banking sector in the kingdom
Fitch Ratings
Saudi Islamic banks see improved profitability amid lower funding costs
Fitch Ratings says Saudi Arabia has the largest Islamic banking financing base of any country
Ccommercial courts
Saudi courts see 30,000 financial cases in 9 months
The majority of commercial cases were dealt with in Riyadh’s commercial court
Credit Suisse
Credit Suisse granted Saudi banking licence
Swiss lender will join competitors such as Citigroup JPMorgan Chase & Co and HSBC Holdings in expanding into Saudi Arabia
General Authority of Zakat and Tax
Saudi Arabia to raise Islamic tax on banks
New rules will result in banks paying 10-20% of net profit
General Authority for Zakat and Tax
Saudi Arabia said to mull raising tax on local banks
Sources say Gulf kingdom is considering plans to increase an Islamic tax paid by local banks to as much as 20%
Al Rajhi Bank
Saudi banking giant picks Temenos for digital transformation
Al Rajhi Bank, the world’s largest Islamic bank, appoints software firm to drive digital solutions
belt and road initiative china
Beijing bank said to be in talks to back $20bn Saudi fund
Sources say Everbright Bank Co is among parties in talks to contribute capital to a joint investment fund being set up by China and Saudi Arabia
saudi banking
UAE performance weighs on Standard Chartered’s MidEast momentum
Banking giant says it saw good performance in Saudi Arabia but also highlights ‘underperformance’ in the UAE
Al Rajhi Bank
Zakat payments ease pressure on Saudi bank ratings, says Fitch
Ratings agency says confirmation of Saudi banks’ extra zakat payments for years up to and including 2017 removes a key near-term uncertainty