Saudi Arabia weathers the storm
"In 2012, approximately 32 percent of banking profits came from retail banking, 31 percent from corporate banking, 28 percent from the treasury and eight percent from investment banking. The aggregate profits of the Saudi banks grew by four percent in the first quarter of the current year compared to the same quarter last year: part of a sequence of slow growth in the sector that has followed the financial crisis. The reason behind this is that interest rates have been heavily cut since 2006 - particularly at the start of 2009 - helping banks find high revenue sources and attract deposits. The declining trade volumes following the 2006 Saudi market crash also affected what - back then - constituted a large portion of bank revenues."
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