Saudi Arabian Banking Sector Set for Robust Growth

Thanks to favorable economic environment, strong and active regulatory support, the Saudi Arabian banking sector is expected to witness robust growth during 2009-2013.

Noida, India, February 24, 2010 --( RNCOS, a leading market research firm said in its new research report “Saudi Arabia Banking Sector Analysis” that the banking sector, which ranks second after UAE in the Middle East, would continue to record healthy growth in coming years. As per the report estimations, the Kingdom’s banking assets are projected to grow at a CAGR of around 18% during 2010-2013.

The key findings of the report show that that the banking sector has been able to weather the global financial crisis owing to highly capitalized and well regulated system. Both the key pillars of the sector "loans" and "deposits" have witnessed notable expansion over the past couple of years. Bank loans grew at a CAGR of over 18% while deposits posted CAGR of around 16% during 2004-2009.

The report further reveals that the banking sector has experienced significant changes in modern banking technology developments including Internet banking and phone banking services. Moreover, banks are also modernizing their payment card technology and shifting towards smart card technology to offer more secure and advanced featured card to consumers.

“Saudi Arabia Banking Sector Analysis” is an outcome of extensive research and detailed study of the Saudi Arabian banking sector. In this report, all the important performance indicators of the sector have been discussed in detail. It also features forecast for each of the banking segment to provide better understanding of the sector in the country.

The report analyzes the trend of macroeconomic factors critical for the banking sector and their impact on the sector. It has also identified the key players in the market and contained detail business description of these players. Additionally, the report sheds light on the emerging industry trends, which are expected to decide the future of the Kingdom’s banking sector.

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

Shushmul Maheshwari
Chief Executive
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