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Saudi banking system unaffected by the global financial meltdown

Saudi banking system unaffected by the global financial meltdown
19 Sep

Riyadh - SPA

SAMA Governor said the Saudi banking system achieved powerful and continuous growth
during the last decade (2003-2013) while strongly eliminating the fallout of the global
financial crisis. The total assets of non-government banks tripled from SR 509 billion
to SR 1734 billion. Accounts payable from the private sector increased five times  from
SR 206 billion to SR 999 billion. Saudi Arabia maintained high credit rating with
positive prospect. The last rating was AA from Fitch Ratings International.

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