FY20/21 Investor Presentation
FY 2022 Assumptions and Outlook | Positive economic outlook with focus in delivering efficiencies
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IMF forecasted Saudi GDP growth of 4.8% in 2022 while MoF forecasts stands at 7.8%.
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MoF forecasted a budget surplus of SAR90bn. representing 2.5% of GDP in 2022
Economy
• Consumer spending increased by 10.2% in 2021 on the back of improved economic activities and vaccine rollout
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Credit growth is expected to continue during 2022 supported by government and PIF initiatives and projects
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Interest Rates
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Strategy &
Execution
FY20 21 Investor Presentation
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Interest rates are expected to move higher during 2022 as US inflation staying well above its 2% target
Competition is expected to continue which will negate the positive impact of higher interest rates
Retail ex-mortgage assets re-pricing is expected to occur in the range of 1-3 years.
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"Bank of the Future" strategy is paving the way for growth opportunities across all business lines
Strategy execution is on track to build a financial ecosystem addressing changing customer needs
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The focus will continue to improve the bank overall efficiencies through several initiatives
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ESG remains a focus for the management to build a sustainable business that contributes to the bottom line
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