The Saudi banking industry remains robust, the National Commercial Bank (NCB) said in its Quarterly Monetary Review for the third quarter 2011. On the financing front, private sector credit continued its upward trajectory, posting a 9.0 percent Y/Y growth rate, which marks the highest growth since 1Q2009.
The trajectory was underpinned by the manufacturing sector that grew by 39.1 percent Y/Y. Additionally, the building & construction sector rebounded back to expansion as it reached SR54.2 billion during 3Q2011………………………………………..Full Article: Source