Bloomberg News

Saudi Banks Not Exposed to European Debt Crisis, Al-Jasser Says

October 08, 2011

Oct. 8 (Bloomberg) -- Saudi Arabia’s banks aren’t exposed to the European debt crisis, the kingdom’s central bank Governor Muhammad al-Jasser told reporters in Riyadh today.

“We are not exposed to what happens in Europe,” al-Jasser said. “Our lending is domestic, our deposits are domestic.”

Banking lending to the private sector increased 9 percent so far this year, al-Jasser said.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Glen Carey at gcarey8@bloomberg.net


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