Banking giant says to transfer its asset management, retail brokerage and retail margin lending businesses to the subsidiary of the Saudi British Bank
Saudi banking sector
debt market
How Saudi Arabia is likely to fund its Vision 2030 ambitions
Ratings agency S&P says Saudi Arabia’s debt capital market is set to take on a larger role in financing huge programme
National Commercial Bank
Kingdom’s largest bank starts trading on Saudi Stock Exchange
Saudi National Bank was created as a result of the historic merger between National Commercial Bank and Samba Financial Group
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
Saudi Arabian Airlines
Saudia signs $3bn financing deal to expand aircraft fleet
Saudi Arabian Airlines Corporation inks agreement with six local banks to finance new planes to mid-2024
National Commercial Bank
NCB and Samba announce merger to create Saudi Arabia’s largest bank
Saudi National Bank will be headquartered in Riyadh and will begin operations on April 1
Financial Services
HSBC Singapore chief executive tapped to run Saudi British Bank
Tony Cripps will replace CEO David Dew at SABB, who is retiring in May
Anti-corruption
Saudi Arabia says businessmen, banking employees arrested over $3.1bn scheme
Seven businessmen and 12 bank employees detained for a scheme that involved transferring huge amounts of money
liquidity ratio
Saudi Central Bank hikes bill issuance cap to $2.6bn
Saudi lenders are dealing with a liquidity glut after the central bank provided a raft of support measures in response to the coronavirus pandemic
Abdulaziz Al Onaizan
Video: Things are looking ‘very good’ for Bank Albilad says CEO
Abdulaziz Al Onaizan, chief executive officer at Bank Albilad, discusses the health of the Saudi economy, support from the central bank and the potential for consolidation with another bank.
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
Asset Management
BlackRock opens Saudi office in Riyadh
New York-based company is world’s largest asset manager
Saudi Arabian Monetary Authority
Saudi Arabia’s foreign assets fall most in July for over 2 years
Net foreign assets held by the Saudi Arabian Monetary Authority declined by about $9bn last month to $498bn
Fitch Ratings
Saudi banking profits rise despite pressure on assets, says Fitch
Ratings agency says Saudi banks saw little new business and subsequent low loan growth affected by lower government spending in 2018
Financial Services
Saudi banking sector shows strong growth
Latest KPMG report reveals increase in net profit and total assets
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
Bahrain banking
GCC’s wave of bank mergers ‘almost over’, says S&P
Ratings agency says pool of GCC-based banks with common major shareholders is shrinking which will mean fewer M&A from now on