SAB CEO sees no slowdown, pressure in Saudi Arabia's business sectors
He emphasized that SAB sees no signs of slowdown or pressure across business sectors in the Kingdom.
Cripps attributed the improved profitability during the quarter largely to effective cost management.
The bank has not observed any distress in corporate client activity across segments, he said, noting that credit risk was limited to just one or two names among the bank's clients during Q2.
The bank is currently comfortable with its capital levels, but future expansion will necessitate raising more capital. Thus, SAB intends to tap international markets again, with a growing focus on broader participation from Asian markets in upcoming financing rounds.
SAB's CEO and MD pointed out that the bank was able to offset lower interest income with an increase in fee-based revenues, and that it focused on residential mortgages to stabilize interest returns. The bank also acted early in response to expectations of falling interest rates.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Fair Competition: A Pillar for Consumers and Driver of Saudi Arabia's Economic Growth
Fair competition is emerging as a cornerstone of Saudi Arabia's economic transformation, serving not only as a market principle but as a vital engine for national growth and innovation. By fostering an environment of healthy rivalry, companies are compelled to improve product quality, lower prices, and enhance consumer experience, all of which benefit the Saudi consumer and economy alike. This competitive landscape encourages domestic investment, attracts foreign capital, and stimulates research and development, thereby reinforcing economic sustainability. But experts emphasize that fair competition is only as effective as the policies and regulatory frameworks enforcing it. Financial and economic advisor Dr. Hussein Al-Attas told Asharq Al-Awsat that fair competition acts as a key market regulator, limiting companies' ability to monopolize prices. 'Freedom to compete naturally pushes prices closer to real production costs,' he explained, 'reducing excessive profit margins and expanding consumer choice.' Al-Attas stressed that quality is now central to market success. 'Consumers are increasingly discerning, comparing prices, quality, and service,' he said, adding that companies failing to meet evolving standards in production, packaging, or after-sales support quickly lose market share. He described this environment as creating 'positive pressure' on firms to maintain high quality to retain customer loyalty, making excellence not just a goal, but a survival strategy. Government policies, Al-Attas noted, can either foster or distort competition. While support for startups and tax incentives can spur fair competition, imbalanced subsidies may unfairly favor specific companies, undermining market fairness. Incentives should be based on transparent criteria aligned with public interest, he stressed. Regulatory bodies like the General Authority for Competition play a vital role, he said. They monitor monopolistic behavior, investigate complaints, regulate mergers, and promote business awareness around fair play. For his part, Economist and King Faisal University academic Dr. Mohammed bin Duliem Al-Qahtany echoed this view, calling fair competition not only an economic tool but a 'social guarantee for equity' and a key driver of investor confidence. He highlighted Saudi Arabia's strides in making its economy among the most competitive and sustainable regionally and globally. 'A competitive market forces rational pricing and deters exploitation,' he told Asharq Al-Awsat. Al-Qahtany cited the rise of Saudi e-commerce as a success story, noting how competition has led to innovations like facial recognition payment and AI-powered consumer analytics, improving both service and efficiency. He pointed to sectors such as food and beverage, where consumer awareness and competition have elevated standards in hygiene and packaging. Government initiatives like the Saudi Made program, he said, exemplify balanced support that boosts national industry competitiveness and promotes small business growth. A robust and transparent competition framework is essential for maintaining a fair market, protecting consumers, and solidifying investor trust in Saudi Arabia's economic future, he stated.
Argaam
3 hours ago
- Argaam
Waja secures SAR 4.16M project from Saudi Falcons Club
Waja Co. announced the awarding of a project to supply, install, and furnish the administrative headquarters of the Saudi Falcons Club in Al-Qayrawan, valued at SAR 4.16 million, inclusive of value-added tax (VAT), according to a Tadawul statement. The project was awarded on July 31 with no related parties involved in the deal, the statement added.
Argaam
3 hours ago
- Argaam
Marketing Home prices TASI IPO at SAR80-85/shr
Alinma Capital, the financial advisor, bookrunner, and lead manager of Marketing Home Group for Trading Co.'s (MHG) initial public offering (IPO) on the Main Market (TASI), announced the price range for the offering and the start of the book-building process today, Aug. 3. The IPO was priced between SAR 80 and SAR 85 per share, according to a Tadawul statement.
