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Saudi banks arranged $4.2bn Mena loans, 43% of total

Banks operating in Saudi Arabia have arranged the most loan syndications this year so far, arranging for $4.19bn of syndicated loans, which represent 43% of the total in the Middle East and North Africa (Mena) region, Bloomberg has reported. Regional syndicated lending fell 28% in 2012 to $9.86bon, compared with drops of 39% in Western Europe and 47% in Asia. Saudi banks, which benefit from the lowest loan-to-deposit ratio in the six-nation GCC, accounted for four of the top-five lead arrangers this year, positions held by European and US banks in the five years to 2011, the report said.