Fitch Ratings expects the sector's strong profitability to continue for the remainder of the year after these banks announced strong profitability metrics last year and the first quarter of 2024.
According to the agency, the operating environment for Saudi banks remains favorable, and their rating is the highest among the banking sectors in the Gulf Cooperation Council countries.
Fitch expects banks in Saudi Arabia to continue to grow at twice the average rate of their GCC counterparts by increasing lending ratios, especially corporate lending.
Source (Al Arabiya.net Website, Edited)
