23.03.2010 - Saudi banks grow stronger despite high provisions

From Gulfnews.com: Provisions booked by Saudi banks last year for credit losses are "very high" but lenders are now in a stronger position than they were during the global economic meltdown, the governor of the Saudi Arabian Monetary Authority, or SAMA, said . "The provisions taken by our banks during 2009 year are very high by all standards," Mohammad Al Jasser told the Dubai-based channel in an interview posted on SAMA Web site......................................Full Article: Source

Print