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ARQAAM ADVISES AVOIDING SAUDI BANKS ON RATES, ECONOMY.

Saudi Arabia's slowing economy, tighter liquidity and rising interbank rates mean investors should avoid the country's banks, Dubai-based Arqaam Capital said. Tighter liquidity conditions are likely to persist in the "medium term," the investment bank said in a note on Friday, adding that rising interbank rates have a relatively insignificant impact on bank margins and profitability. Arqaam also said it doesn't expect the Saudi Arabian Monetary Agency to fine any banks as a result of its request that lenders stop lowballing interbank rate submissions.

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Publication:Pakistan & Gulf Economist
Date:Jun 19, 2016
Words:118
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