Banking & Finance Saudi Arabia lists five global banks as primary debt dealers By Reuters October 3, 2022 Reuters/Ahmed Yosri The bank made a net profit of SAR4.76 billion in the fourth quarter 2022 Saudi Arabia’s finance ministry said on Sunday it had signed an agreement with BNP Paribas, Citi Group, Goldman Sachs, Standard Chartered and JPMorgan to become primary dealers in government debt instruments. “The agreement aims at diversifying the investor base and supporting development of the secondary market,” a statement from the ministry said. The five international banks will join five local banks in that role, it added. Reuters previously reported that the Public Investment Fund has hired banks including Citi and JPMorgan to arrange a debut issuance of multi-tranche US dollar-denominated green bonds. A debut issuance in tranches of five, 10 and potentially a longer-dated tenor will follow, subject to market conditions. The issuance will be under GACI First Investment Company and guaranteed by PIF.