We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Goldman starts coverage of 6 Saudi banks

Starts Samba, SABB, Banque Saudi, Arab Nat'l with buy


September 14, 2010 11:05 by

The Saudi government’s stimulus program is likely to result in strong economic growth and robust corporate credit demand, benefiting the country’s banking sector, said Goldman Sachs, which started coverage of six banks.

Last month, Saudi Arabia announced plans to build schools, hospitals, housing and other infrastructure projects as part of a five-year plan budgeted at nearly $375 billion.

“We believe Saudi banks are entering a virtuous banking cycle, underpinned by credit growth, asset mix improvement, low funding cost and falling loan losses,” Goldman said.

It started Samba Financial Group, Saudi British Bank, Banque Saudi Fransi and Arab National Bank with “buy” ratings.

Corporate loan growth would also rebound on the back of lower government financing, Goldman said, adding that banks with substantial liquidity should benefit the most.

Relatively low consumer finance penetration and attractive demographics will result in robust retail loan growth for the banks, Goldman said.

(Reporting by Mary Meyase in Bangalore; Editing by Maju Samuel)


Tags: , , ,

Leave a Comment