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Saudi Arabia bank credit remains dormant despite monetary easing

Posted on 10 August 2009

From Business24-7.ae: The recent debt crisis by two major Saudi groups has allied with plunging consumer demand and growing risk sensitivity by domestic banks to hit credit activity in the Kingdom despite a spate of monetary easing measures by the country’s central bank, a key Saudi bank said yesterday.

Despite a growth in deposits with the 12 commercial banks in the world’s largest oil exporter, they have remained reluctant to provide loans, while their investments in government securities have contracted because of lower rates, the Saudi America Bank Group (Samba) said in its August economic bulletin……….Full Article: Source

 
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