Saudi banks see no significant impact from lira depreciation
Thursday 16/August/2018 - 05:28 PM

There has been no significant impact from the
depreciation of the Turkish lira on the results and quality of Saudi Arabian
bank assets, Talaat Hafez, spokesman for Saudi banks, was quoted as saying in a
tweet carried by the kingdom's state TV Alekhbariya on Thursday.
Earlier on Thursday National Commercial Bank, Saudi
Arabia's largest bank by assets, said there was limited impact from the decline
of the lira on the bank.
The currency has lost nearly 40 percent against the
dollar this year, driven by worries over Turkish President Tayyip Erdogan's
growing influence on the economy and his repeated calls for lower interest
rates despite high inflation.