Saudi Banks Beating JPMorgan Urged to Boost Capital: Arab Credit
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Saudi Arabia is urging lenders to boost capital reserves, which are already above those of global peers including JPMorgan Chase & Co. and Citigroup Inc, to support lending growth.
Lending in the oil-rich country is expected to increase more than 10 percent a year until 2017, according to Arqaam Capital Ltd. National Commercial Bank this year raised $1.3 billion through bonds, making it the strongest start to a year for bank issuance since 2007, as Central Bank Governor Fahad Al Mubarak seeks higher capital ratios.