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Total deposits with Saudi banks hit US$245 bln

Posted on 28 October 2009

From Bi-me.com: Total deposits with Saudi banks has hit US$245 billion at the end of June 2009, according to a report by BMG Financial Group, as a result of their efforts to attract more deposits and address higher demand for Islamic banking services, which provide low cost of funding and high profit margins.

In addition, bank lending to the Kingdom’s private sector rose for the first time in three months in February, albeit a mere 0.2%, according to a report by an information partner of REIDIN.com, the world’s first and leading global online information services provider……………………..Full Article: Source

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