Company Insights Saudi National Bank Banking and Finance Saudi National Bank News Analysis Banking and Finance Qatar’s QIA challenges UBS Credit Suisse takeover The Qatar Investment Authority (QIA) is said to be considering taking legal action against the Swiss financial authorities following the forced takeover of Credit Suisse by domestic rival UBS. The Qatari fund increased its stake in Credit Suisse in late 2022 as part of the ailing lender’s ultimately failed attempts to bolster its finances following […] May 18, 2023 Banking and Finance Visa makes first Mena open banking investment Payments giant Visa has made its first investment into open banking in the Middle East and North Africa as the region seeks to develop its fintech sector. Open banking allows customers to share their financial data securely with a third-party provider to take advantage of new services and products. Tarabut Gateway, an open banking platform, […] May 3, 2023 Banking and Finance SNB’s Credit Suisse holding to convert to 0.5% of UBS Saudi National Bank’s (SNB) 9.88 percent shareholding in investment bank Credit Suisse will convert to nearly 0.5 percent of UBS following the merger of the two Switzerland-based lenders. The Saudi bank, a top shareholder in Credit Suisse, said the Swiss lender’s investment carrying value declined 70 percent to SAR1.3 billion ($346.63 million) as of March […] May 2, 2023 Analysis Banking and Finance Saudi banks face liquidity pressures as economy grows The Saudi central bank may step in to provide funding to local banks for the second time in a year to ease liquidity pressures and keep the economy growing, analysts have said. Last June central bank Sama placed about SR50 billion ($13 billion) as time deposits with commercial lenders in a bid to ease the […] April 25, 2023 Employment Highest earning Saudi executive paid $3.3m in 2022 With total earnings of $3.3 million, the chairman of Saudi Automotive Services Co was the highest paid executive of listed companies in the kingdom last year, as pay for senior officials and board members continues to rise. Ibrahim Al Hudaithi topped the list compiled by Saudi financial news platform Argaam, with total earnings of SAR12.4 […] April 13, 2023 Opinion Banking and Finance Will GCC banks shrug off the global banking meltdown? A number of key differences set Gulf banks apart from their crisis-hit US and European counterparts April 7, 2023 Banking and Finance SNB announces management changes after Credit Suisse fallout Ammar Al Khudairy has resigned as chairman of Saudi National Bank for “personal reasons”, it was announced on Monday, leading to a series of SNB management changes. SNB chief executive Saeed Mohammed Al Ghamdi has been appointed his successor, according to a statement on the Tadawul Saudi stock exchange. Talal Ahmed Al Khereiji, a graduate […] March 27, 2023 Banking and Finance SNB shares rebound following UBS-Credit Suisse deal Shares in SNB on Tuesday rose for a second session since the state-backed lender said its profits would be unaffected by the UBS takeover of rival Credit Suisse, the Swiss bank in which it owns a minority stake. Saudi National Bank’s stock rose 3.4 percent to SR45.90 ($12.24), taking its gains to 10.6 percent from […] March 21, 2023 Banking and Finance SNB plans growth despite Credit Suisse losses Saudi National Bank has said its growth strategy will not be impacted by the UBS takeover of beleaguered rival Credit Suisse, despite analysts predicting “heavy losses” for Gulf backers. SNB is joined by Qatar Investment Authority and Saudi Arabian conglomerate Olayan Group, who all have varying levels of interest in the 167-year-old Swiss bank. Rohit […] March 20, 2023 Banking and Finance Saudi National Bank has liquidity to withstand Credit Suisse shock Saudi National Bank has enough liquidity to withstand any losses arising from the troubled Credit Suisse, according to a leading economist. SNB, the kingdom’s biggest lender, took a stake of almost 10 percent in Credit Suisse last year after it participated in the bank’s $4.3 billion capital raise. It became its largest shareholder, with a […] March 17, 2023 Posts navigation Previous 1 … 6 7 8 9 Next
Analysis Banking and Finance Qatar’s QIA challenges UBS Credit Suisse takeover The Qatar Investment Authority (QIA) is said to be considering taking legal action against the Swiss financial authorities following the forced takeover of Credit Suisse by domestic rival UBS. The Qatari fund increased its stake in Credit Suisse in late 2022 as part of the ailing lender’s ultimately failed attempts to bolster its finances following […] May 18, 2023
Banking and Finance Visa makes first Mena open banking investment Payments giant Visa has made its first investment into open banking in the Middle East and North Africa as the region seeks to develop its fintech sector. Open banking allows customers to share their financial data securely with a third-party provider to take advantage of new services and products. Tarabut Gateway, an open banking platform, […] May 3, 2023
Banking and Finance SNB’s Credit Suisse holding to convert to 0.5% of UBS Saudi National Bank’s (SNB) 9.88 percent shareholding in investment bank Credit Suisse will convert to nearly 0.5 percent of UBS following the merger of the two Switzerland-based lenders. The Saudi bank, a top shareholder in Credit Suisse, said the Swiss lender’s investment carrying value declined 70 percent to SAR1.3 billion ($346.63 million) as of March […] May 2, 2023
Analysis Banking and Finance Saudi banks face liquidity pressures as economy grows The Saudi central bank may step in to provide funding to local banks for the second time in a year to ease liquidity pressures and keep the economy growing, analysts have said. Last June central bank Sama placed about SR50 billion ($13 billion) as time deposits with commercial lenders in a bid to ease the […] April 25, 2023
Employment Highest earning Saudi executive paid $3.3m in 2022 With total earnings of $3.3 million, the chairman of Saudi Automotive Services Co was the highest paid executive of listed companies in the kingdom last year, as pay for senior officials and board members continues to rise. Ibrahim Al Hudaithi topped the list compiled by Saudi financial news platform Argaam, with total earnings of SAR12.4 […] April 13, 2023
Opinion Banking and Finance Will GCC banks shrug off the global banking meltdown? A number of key differences set Gulf banks apart from their crisis-hit US and European counterparts April 7, 2023
Banking and Finance SNB announces management changes after Credit Suisse fallout Ammar Al Khudairy has resigned as chairman of Saudi National Bank for “personal reasons”, it was announced on Monday, leading to a series of SNB management changes. SNB chief executive Saeed Mohammed Al Ghamdi has been appointed his successor, according to a statement on the Tadawul Saudi stock exchange. Talal Ahmed Al Khereiji, a graduate […] March 27, 2023
Banking and Finance SNB shares rebound following UBS-Credit Suisse deal Shares in SNB on Tuesday rose for a second session since the state-backed lender said its profits would be unaffected by the UBS takeover of rival Credit Suisse, the Swiss bank in which it owns a minority stake. Saudi National Bank’s stock rose 3.4 percent to SR45.90 ($12.24), taking its gains to 10.6 percent from […] March 21, 2023
Banking and Finance SNB plans growth despite Credit Suisse losses Saudi National Bank has said its growth strategy will not be impacted by the UBS takeover of beleaguered rival Credit Suisse, despite analysts predicting “heavy losses” for Gulf backers. SNB is joined by Qatar Investment Authority and Saudi Arabian conglomerate Olayan Group, who all have varying levels of interest in the 167-year-old Swiss bank. Rohit […] March 20, 2023
Banking and Finance Saudi National Bank has liquidity to withstand Credit Suisse shock Saudi National Bank has enough liquidity to withstand any losses arising from the troubled Credit Suisse, according to a leading economist. SNB, the kingdom’s biggest lender, took a stake of almost 10 percent in Credit Suisse last year after it participated in the bank’s $4.3 billion capital raise. It became its largest shareholder, with a […] March 17, 2023
