NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/01/25 - Building and construction loans in Saudi Arabia are set to grow at a CAGR of around 17.6% during 2010-2013, says RNCOS in its new research report.
According to our new research report "Saudi Arabia Banking Sector Analysis", Saudi Arabia has one of the largest and fastest growing banking markets in the Middle East. Owing to the global turmoil and defaults by local family firms, the bank credit growth in Saudi Arabia remained stagnant throughout 2009. However, it is expected that with confidence in the rising global economy, lending growth will recover in 2011 specifically building and construction credit. It is expected that the building and construction loans will grow at a CAGR of around 17.6% during 2010-2013.
With the sustainable acceleration of building and construction activities, loans to the building and construction businesses have recorded considerable growth during the past few years. It is expected that the enforcement of much-awaited mortgage law in the Kingdom will enhance the real-estate sector that would gradually improve financing activities in the Kingdom.
Further, our report reveals that most of the credit by the banks categorized under public and private sector goes to the private sector. Continuous expansion of commerce industry is attributable for this growth.
Apart from this, our report reveals that the banking sector has experienced significant changes in modern banking technology developments, including Internet banking and phone banking services. Moreover, banks are modernizing their payment card technology and shifting towards smart card technology to offer more secure and advanced featured card to consumers.
"Saudi Arabia Banking Sector Analysis" is an outcome of extensive research and detail study of the Saudi Arabian banking sector. In this report, all important performance indicators of the sector have been discussed in detail. It also features forecast for each of the banking segment to provide better understanding of the sector in the country.
The report analyzes the trend of macroeconomic factors critical for the banking sector and their impact on the sector. It has also identified the key players in the market and contains detail business description of these players. Additionally, the report sheds light on the emerging industry trends, which are expected to decide the future of the Kingdom's banking sector.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.