Saudi bank fundamentals seen to remain strong, profit growth to slow: S&P
- Date: 13-Sep-2023
- Source: Argaam
- Sector:Financial Services
- Country:Saudi Arabia
Saudi bank fundamentals seen to remain strong, profit growth to slow: S&P
Saudi banks will likely maintain strong fundamentals, SP Global said, adding that, amid saturation of the mortgage market, demand is set to slow down and corporate lending to boost credit growth in the remainder of 2023 and in the medium-term.
SP also said it expects earnings growth to slow in 2023, primarily due to lower credit growth and higher impairment charges.
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