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Saudi banking sector outlook remains stable: Moody's
- Saudi Arabia: Wednesday, October 10 - 2012 at 02:27
Moody's Investors Service has said the outlook for Saudi Arabia's banking system remains stable, Saudi Gazette has reported. The ratings agency said key drivers of the outlook include a benign operating environment; low problem loan levels; strong loss-absorption capacity, underpinned by high capital buffers and solid profitability; and the sector's stable, low-cost deposit base and ample liquidity. However, Moody's said these system-wide strengths will remain counterbalanced by structural weaknesses, such as high loan and deposit concentrations and the financial opacity of certain family conglomerates, over the 12-18 month outlook period.
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