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More Saudi banks raise loan loss provisions

Posted on 29 July 2009

From Business24-7.ae: Al-Rajhi Bank, Saudi Arabia’s largest lender by market value, booked in the second quarter the highest provisions for loan losses this year amid fears over the solvency of two heavily-indebted Saudi firms.

The Islamic lender booked 421.6 million Saudi riyals ($112.4 million; Dh412.51 million) in provisions for loan losses during the second quarter, according to official data published on Tuesday………Full Article: Source

 
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