07/03/2010
"Ouda Capital" expects a profit growth in Saudi Arabia about 22% this year
Ouda Capital confirmed in its recent report that Saudi banking sector in the Kingdom are able to deal better with any further repercussions of the crisis under the world economy back to growth and stability of medium-term aspiration of oil prices.
Ouda Capital also expected in its report that lending growth will be more than 10% this year, supported by ample cash flow, fiscal and monetary policies pursued.
Capital's report predicted all the banks in Saudi Arabia Saudi to achieve growth in net profit by almost 22% in 2010.
On the other hand, Capital did not rule out more credit problems in the banking sector during the first half of this year, expecting to inform the allocations that banks would take this year, about 7 billion riyals.
