Aramco Attacks May Take Time to Trickle to Banks, Moody’s Says
- Outlook for Saudi banks seen as stable for next 12-18 months
- Record government spending to help fuel lending growth
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It is too early to link the attacks on Saudi Aramco’s facilities to the kingdom’s banking system and the effects might take some time to trickle through, according to Moody’s Investors Service.
“We still don’t know,” Ashraf Madani, a senior analyst at Moody’s in Dubai, said in an interview in Riyadh on Tuesday. The outlook for lenders in the country is stable for the next 12-18 months, he said.