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Saudi Arabia’s Banking Sector Gains Momentum

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  • Moody’s highlights growth in non-carbon sectors like construction and tourism as key drivers for Saudi banks
  • Kingdom’s banking profits surge by 23% as Vision 2030 reforms continue to fuel lending opportunities

A recent report from credit rating agency Moody’s reveals that Saudi Arabia’s ambitious drive for economic diversification is propelling growth in its banking sector, with non-hydrocarbon industries such as construction and tourism presenting attractive lending prospects.

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