Saudi lenders’ 2Q earnings growth spans flat to 14%
Growth drivers varied from core lending to investment income to provisioning
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Growth drivers varied from core lending to investment income to provisioning
Saudi Awwal Bank (SAB) signed a SAR 6.4 bn bilateral financing agreement with PIF-backed Albawani, according to a press release.…
The banking sector continues to deliver positive results
The growth was attributed to higher total operating income
The 10-year facility will finance one of the Eastern Province’s largest private healthcare projects
PLUS: Stride Venture partnered with SAB Invest, aiming to invest USD 500 mn in the region’s startups and SMEs
SAB’s net income rose 13.9% y-o-y to SAR 2.1 bn, while Electrical Industries’ jumped 32.7% y-o-y to SAR 161.1 mn
Some SAR 800 mn of the funding will be used to finance SMC’s new hospital in Riyadh SMC 4
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