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Saudi banking sector growth driven by mortgages: report

Saudi Arabia’s banking sector has experienced rapid growth over the past few years, primarily driven by mortgages and thanks to continued government support, according to a new report from S&P Global Ratings.

The US-based agency pointed out that the Saudi government “has created the infrastructure for banks to divest their mortgage portfolios and improve the structure of their balance sheets” to boost home ownership to 70 percent, a key Vision 2030 objective.

Link: https://www.arabnews.com/node/2313461/business-economy

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