New Market Study Published: Consumer Credit in Saudi Arabia
Consumer credit gross value increased by 10% over its 2010 level compared to growth rates of 5% and 6% in 2010 and 2009 respectively. The strong growth rate in 2011 was mainly attributed to the availability of high liquidity in the banking system. Deposits held with banks were able to hit a record in 2011 and banks sought to boost their profits, which were squeezed in 2009 and 2010 as a result of high provisions against non-performing loans as well...
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