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Islamic Finance Briefing - Categorized | Banking, Performance more

Profits fall at more Saudi banks on lending woes

Posted on 15 October 2010

From Aawsat.com: Four of Saudi Arabia’s biggest banks on Wednesday posted bigger-than-expected drops in third-quarter earnings due mainly to lower lending incomes and provisions for non-performing loans.
The majority of Saudi banks have had to book higher provisions for the previous four quarters to cover defaults by some family owned firms……………………………………….Full Article: Source

 
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