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Gulf Banks may ‘raise provisions on Saudi groups’

Posted on 28 July 2009

From Tradearabia.com: Saudi and Gulf banks may increase provisions on troubled Saudi groups towards the end of the year but levels will not be threatening, the chief economist of Saudi state-owned National Commercial Bank (NCB) said on Monday.

Banks in the Gulf region have taken provisions after troubled Saudi conglomerates Saad Group and Ahmad Hamad Algosaibi & Brothers said they would restructure debt………..Full Article: Source

 
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