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Big banks bounce back in Saudi Arabia after purge
World's major lenders jockeying for position in expectation of sovereigns, large corporates and private sector companies tapping markets for equity and debt
Add BT as a preferred sourcePublished Sun, Mar 4, 2018 · 09:50 PM
Riyadh
GLOBAL banks are pushing ahead with growth plans in Saudi Arabia four months after a crackdown on corruption threatened to derail ambitious plans to transform the economy.
Lenders including UBS Group and Goldman Sachs Group have been hiring and Citigroup just won its first local advisory mandate since returning to Saudi Arabia after a 13-year absence. Deutsche Bank said it's expanding in the kingdom as the outlook for bond and stock sales improves.
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