Since the restriction of banking licences to 10 banks has been lifted, and foreign banks are no longer limited to minority shareholdings, international banks have responded by turning their attention to the Gulf state.
The latest foreign bank that could enter the market is Standard Chartered, which is rumoured to be in talks with ABN Amro about acquiring its 40% stake in Saudi Hollandi Bank. The Saudi institution is the smallest of the 10 listed banks in the kingdom.
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