FINANCIAL NEWS

Saudi banks compete to win funding USD72.24 b projects

02 Dec 2013

(MENAFN) Saudi financial institutions are competing to win financing USD72.24 billion energy and mining projects, according to Arab News.

The Kingdom has allocated USD37.32 billion for power and energy projects, and USD34.92 billion for mining projects. These projects aim to improve the kingdom’s economic and industrial status.

Competition between the banks comes on the back of liquidity abundance and low loans-to-deposits (LTDs) ratio.

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