A&M sees more Saudi bank mergers after blockbuster quarter – Arab News

RIYADH: The aggregate income of Saudi Arabia’s top ten banks jumped by 34 percent in the first quarter compared to the previous three months, Alvarez & Marsal (A&M) said in a report.The banks benefited from improving macroeconomic conditions, buoyant capital markets and a marked decline in impairments, A&M’s Saudi Arabia Banking Pulse revealed. It could set the stage for more mergers in the sector according to the consultancy.“Looking ahead, credit growth is like...

 

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