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Saudi bank provisions should be conservative – c.banker
The provisions should exceed 100 percent of bad loans-says c.banker.
October 12, 2010 11:26 by Reuters
Saudi Arabia’s banks should be conservative and provisions for their non-perfoming loans should exceed 100 percent of their value, Central Bank Governor Muhammad al-Jasser told Al Arabiya TV station.
“In my estimation, the provisions should exceed 100 percent of bad loans,” Jasser said in an interview with Al Arabiya aired on Tuesday. “We as a central bank want banks to be conservative.”
(Reporting by Souhail Karam; writing by Martin Dokoupil; Editing by Raissa Kasolowsky)