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Saudi banks healthy despite downturn
- Saudi Arabia: Sunday, August 23 - 2009 at 09:32
Nomura Saudi Arabia has said that Saudi Arabian banks are resilient to the global economic downturn, due to the relative strength of the region, solid fundamentals and a conservative regulatory environment. Saudi lenders should see profits boosted as rates rise, the brokerage added. But while banks have reduced their exposure in investment securities, Nomura warned that asset-quality was likely to deteriorate if banks continued to grant loans based mainly on a client's reputation, in turn damaging the strength of that profitability and offsetting top-line expansion.
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StaffSunday, August 23 - 2009 at 09:32 UAE local time (GMT+4)
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