| 03.08.2009 - Saudi banks well poised to weather the storm |
| From Arabnews.com: Saudi banks, which have been hit hard by the global financial crisis, are well poised to weather the storm, but challenges still lie ahead for in the medium-term. The banks are still in a better position compared to the collapse of major banks and other financial institutions in the US and Europe. The 2008 results show that aggregate net profits across the 11 locally incorporated banks declined by 14.2 percent to nearly SR26 billion........Full Article: Source |