Riyadh – Mubasher: The Saudi Arabian banks passed the stress tests, and they were not impacted by the doubtful loans, the Saudi Arabian Monetary Authority’s (SAMA) governor Ahmed Alkholifey said.
SAMA may raise the maximum allowable loan-to-deposit ratio, if needed, to meet the domestic economy needs, Alkholifey added during an interview with Al-Arabiya.
Regarding the mergers in the banking sector, the merger of Alawwal Bank has with the Saudi British Bank (SABB) will be clear by the end of 2017, the SAMA’s governor noted.
Three banks will obtain licences to work in the Kingdom later.
The Saudi non-oil sector levelled up 0.6% in the first half of 2017, and the non-oil sector will lead the economic growth in the country.
