AstroLabs’ Post

Saudi Arabia is set to welcome another major banking player. Kuwait's third-largest lender, Burgan Bank, has applied for a commercial banking license to establish its presence in #saudiarabia. The bank is also planning a series of strategic changes to enhance its operations in Saudi Arabia #FollowTheMoniify Click below to learn more: https://lnkd.in/dfXmMBEs

Setting up a bank account is a part of the third phase of the 20-step process of expanding to Saudi Arabia. Global businesses entering this market for the first time need to be aware of key common pitfalls when setting up their bank account – here are the most frequent cases of delays and their solutions for foreign businesses: https://lnkd.in/dj-7kNNW #setupinsaudi #BankAccount #BankinginSaudi #SaudiArabia

The deposits of the main Saudi banks grew at a faster pace (+5.9%) than loans & advances (L&A) (+3.5%) quarter on quarter (QoQ), according to the latest KSA Banking Pulse for Q1 2024 report by Alvarez & Marsal. Consequently, the loans-to-deposit ratio (LDR) retreated by 2.2% QoQ on higher deposit growth, to be at 97% in Q1’24. Operating income increased by 3.8% QoQ, majorly due to growth in non-core income (+16.2% QoQ) with marginal growth in net interest income (NII) (+0.8% QoQ). Read more: https://lnkd.in/dRxdr-M2 #SaudiArabia #Economy #BankngSector #SaudiBanks #Finance

A good positive outlook for the ME region and its core banking sector.

How to Open a Corporate Bank Account in Saudi Arabia? Learn the essential steps to open a corporate bank account in Saudi Arabia, including required documents, procedures, and tips for a smooth application process. Read on https://lnkd.in/gZYBPNAE #corporatebankaccount #saudiarabia #saudibusinesssetup #corporatebanking #saudibss

Saudi Banking Sector Demonstrates Strong Growth in Lending The Saudi banking landscape is experiencing robust loan growth, with an 11% year-over-year increase to SR2.67 trillion. #SAMA's latest report highlights a surge in lending driven by personal borrowing and corporate investments, particularly in real estate and utilities. This trend underlines the country's dynamic economic activity and supports the ongoing expansion in sectors vital for #SaudiArabia's development. For more information, visit Saudi Business News. Link in bio. #SaudiBusiness #SaudiNews #Vision2030 #SaudiArabia #Banking #Finance #RealEstate #EconomicGrowth #LoanGrowth #CorporateInvestment #Utilities #Mortgages #EconomicDevelopment

We are delighted to announce the launch of the KSA Banking Pulse for the third quarter of 2024. The report highlights a 6.0% growth in operating income, supported by higher non-interest income, and a 3.7% QoQ increase in Loans & Advances, driven by corporate and wholesale banking. Amid interest rate cuts and regional challenges, Saudi banks continue to show resilience and adaptability. Find out more by reading the full report available in Arabic and English: https://okt.to/LWg6lH #AMon #KSA #Finance #Banking #MiddleEast

𝐒𝐚𝐮𝐝𝐢 𝐁𝐚𝐧𝐤𝐬 𝐡𝐚𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐞𝐝 𝐚 𝟑.𝟕 % 𝐋𝐨𝐚𝐧 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐐𝟑 𝟐𝟎𝟐𝟒 𝐥𝐞𝐝 𝐛𝐲 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐃𝐞𝐦𝐚𝐧𝐝 Saudi Arabia’s banking sector delivered a strong performance during the third quarter of 2024, with loans and advances up 3.7%. The bulk of this was fueled by 4.4% growth in corporate and wholesale banking, Alvarez & Marsal said. Read More: https://bitl.to/3Gom #SaudiBanks #saudinews #corporatedemand #news #NewsUpdate #businessnews

After registering a company in Saudi Arabia, the next steps include opening a corporate bank account and managing key government portals. This guide provides a clear overview of the most common post-incorporation steps in Saudi Arabia and highlights the potential recurring fines for non-compliance. Read more here: https://lnkd.in/gNVT4Y58 #setupinsaudi #PostIncorporation #SaudiGovernmentPortals #GOSI

Saudi Arabia's Riyad Bank, the #third #largest lender by assets, is considering an initial public offering of its #investment banking arm, Riyad Capital. The #bank , backed by the Public Investment Fund and the government, is assessing the unit's readiness for the #IPO. The deal would be subject to regulatory approvals. #riyadh Bank is 21.75% owned by the Public Investment Fund and 10.39% owned by the government. The IPO boom has been driven by high oil prices and foreign institutional investor interest, despite a global dealmaking slump caused by high interest rates. Saudi Arabia's banks' liquidity has been under pressure as loan growth outpaces deposit growth to support mega projects. Riyad Bank could be the first Saudi lender to spin off its investment banking unit, as the bank aims to #monetize a #business whose value is not clearly reflected at the moment. #saudiarabia #arabic #banking #businessviewelite #businessviewelitemiddleeast #banknifty #saudiarabia #saudi #jeddah #kuwait #bahrain #dubai #dubaimall #lahore #india