NewswireTODAY - /newswire/ - London, United Kingdom, 2010/03/24 - Saudi Arabia Banking Assets Sector to Grow 18% to 2013 according to new report added to ReportBuyer.com.

The report “Saudi Arabia Banking Sector Analysis” is an extensive study of the Saudi Arabian banking sector. It analyses the trend of macroeconomic factors and their impact on the sector. It has also identified key players in the market and contained their detailed business description.

Saudi Arabia has one of the largest and fastest growing banking markets in the Middle East. In terms of banking assets, the country ranks second in the region after the UAE. The sector is highly capitalised, well regulated and more profitable in the region. Despite the heavy slowdown in the economy, the banking sector continued to post healthy growth rate in recent years. The report estimates that banking assets are forecasted to grow at a CAGR of around 18% during 2010-2013.

Weathering the global financial crisis well, banks in Saudi Arabia continued to expand their lending activities. Bank loans grew at a CAGR of over 17%, while deposits posted a CAGR of over 16% during 2004-2009. The private sector dominates the Kingdom's banking sector and accounts for the bulk of credit extended as well as deposits received, says a new report 'Saudi Arabia Banking Sector Analysis' by RNCOS, a leading market research firm.

According to the 50 page report, the Saudi Arabian banking sector has also witnessed a notable expansion in modern banking technologies, including Internet banking and phone banking services. They have enabled the banks to provide a well integrated and modern range of high-tech banking services. The banks are also modernising their payment card technology and shifting towards smart card technology to offer more secure and advanced featured card to consumers.

Agency / Source: Report Buyer Ltd

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