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Saudi's Riyad Capital CEO sees 20% growth
February 8, 2010
The investment banking arm of Riyad Bank aims to grow by at least 20 percent in 2010, boosted by growth in the Saudi stock market, but more defaults at family owned firms risk undermining optimism, the unit's chief executive said.
Ali Al Gwaiz said: "We still believe if the market achieves its potential, which is for 2010 in the range of 20 percent above from where it is now, we should benefit a great deal."
Speaking to Reuters in an interview on Sunday, Gwaiz said: "We would not be happy if our growth is below that of the stock market."
Original Posting At: ArabianBusiness
Ali Al Gwaiz said: "We still believe if the market achieves its potential, which is for 2010 in the range of 20 percent above from where it is now, we should benefit a great deal."
Speaking to Reuters in an interview on Sunday, Gwaiz said: "We would not be happy if our growth is below that of the stock market."
Original Posting At: ArabianBusiness
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