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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

Activity in the Saudi stock market, or Tadawul, is not picking up as some analysts are expecting. This is not what should be the case ahead of its potential MSCI upgrade to emerging-market status.


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...