Banking
From The Report: Saudi Arabia 2022
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Saudi Arabia’s banking sector is dynamic and competitive, comprised of domestic universal banks, foreign specialists and finance companies vying for market share. It is also a sector in the midst of significant and regulation-driven change, as the Kingdom’s leadership works to implement its long-term economic blueprint, outlined in detail in its Vision 2030 programme. Indeed, the financial sector is expected to play a major role in the Kingdom’s diversification initiatives. This cross-sectoral economic transformation is fuelled by technology and innovation-driven process optimisation to create new opportunities. In the banking sector specifically, digitalisation is seen as the key to unlocking a new era of enhanced services, eased connectivity and enhanced financial inclusion.

This chapter contains an interview with Tony Cripps, CEO, Saudi British Bank.

Articles from this Chapter

Overview

Changing landscape: Digitalisation and regulatory updates spurring business process optimisation and generating new sector opportunities
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Saudi Arabia’s banking sector is dynamic and competitive, comprised of domestic universal banks, foreign specialists and finance companies vying for market share. It is also a sector in the midst of significant and regulation-driven change, as the Kingdom’s leadership works to implement its long-term economic blueprint, outlined in detail in its Vision 2030 programme. Indeed, the financial sector is expected to play a major role in the Kingdom’s diversification initiatives. This cross-sector…

Interview

Prospective growth: Tony Cripps, CEO, Saudi British Bank (SABB), on trends that are shaping the future of the banking industry
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Interview:Tony Cripps What can be done to facilitate growth of local small and medium-sized enterprises (SMEs) and ensure the availability of financing? TONY CRIPPS: There is a strong commitment from the government to increase the contribution of SMEs to GDP, which will help to accelerate the economic diversification of the Kingdom. There are strict key performance indicators in place to support these objectives, and local banks play an important role in providing the necessary financing mechanisms…

Analysis

Strike a balance: Amid an economic expansion, the country strives to moderate a rise in consumer lending against falling bank deposits
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A robust recovery from the Covid-19 pandemic and a positive economic outlook should help the Saudi banking sector overcome a relative lack of liquidity as consumer lending growth outpaces deposits. Amid a high inflationary global environment, rising commodity costs and interest rate hikes worldwide, Saudi Arabia has become an increasingly attractive destination for international investors as a safe haven in the post-pandemic context. Strengthened by increased oil-related revenue and a strong domestic…

Analysis

Tie-up trend: GCC banks consolidate to boost resilience against future crises
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The Gulf banking sector has witnessed an increase in mergers and acquisitions (M&A) in recent years, as lenders continue to deal with the economic headwinds associated with the Covid-19 pandemic. At the outset of the pandemic in the first quarter of 2020, it was anticipated that the economic slowdown and the associated fall in oil prices would accelerate the M&A trend among banks in the region, with most institutions expecting constrained profitability despite performing well on risk indicators. Pandemic…

Analysis

Global stage: Islamic finance gains more recognition on an international scale
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After a resilient performance in 2020, the international Islamic finance sector fared positively in 2021 as an improved economic environment and a rise in the number of large projects combined to drive demand for services. Despite the twin challenges of the Covid-19 pandemic and the fall in international oil prices that affected many of the world’s heavyweights in Islamic finance, the global sector’s assets grew by 10.6% in 2020, according to ratings agency Standard & Poor’s (S&P).…