Banking & Finance
Time and savings deposits in Saudi Arabia's banking system grew 3 percent since the beginning of the year
Great strides have been made in advancing digital transformation and building a robust payment ecosystem across the region
Market sees surge in liquidity with a traded value of SAR2.5 billion in 2023
Offering includes a GBP300 million tranche with a 5-year coupon and a GBP350 million tranche with a 15-year coupon
The report shows remarkable growth in operating income (+3.8 percent) mainly on the back of higher fee income
Personal loans constituted 47 percent of banks' total lending, while corporate loans made up the remaining 53 percent
The growth in earnings is driven by 11 percent lending growth and a rising interest rate environment
E-commerce and retail sector retained its position as the leading industry in Saudi Arabia's venture landscape
Medium-sized enterprises took the largest share at 57.5 percent or SAR158.411 billion in March 2024
This represents a 3.66 percent rise compared to the previous month
Surge in demand deposits fuels Saudi Arabia's money supply growth
Cash flow from operating activities stands at $33.59 billion
Non-oil economy will continue to grow with increased government investments in Vision 2030 projects
Region must tackle important structural reform agenda to ensure peace and stability
Businesses need to be agile, adapt their strategies and invest in digital infrastructure
Robust M&A activity in the region with economic diversification driving growth
In December 2023, Cenomi Retail acquired 100 percent of the share capital of Innovative Outfit Trading Company
The operating income grew by 9.5 percent
Accelerating innovation, unveiling market trends and crafting business success
The initiative seeks to advance tech sectors in the Middle East and Africa
Investment funds and funding rounds to support innovation and tech entrepreneurship
JPMorgan Chase tops the list based on market capitalization
The company’s board approved a dividend payment of SAR 329.0 million for 2023, payable in 2024
