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|
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