SAIB says difficult to assess financial impact of COVID-19 measures

28/04/2020 Argaam

Saudi Investment Bank (SAIB) said it is currently difficult to estimate the financial impact of the precautionary measures taken to limit the spread of COVID-19 pandemic, given the inability to determine how long these measures will be in place.

 

The bank said in a statement to Tadawul that its financial soundness indicators are strong and it is able to stand the current economic challenges.

 

SAIB resumed operations in its branches according to the working hours set by the Saudi Arabian Monetary Authority (SAMA) while complying with the required precautionary and preventive measures.

 

It added that the Royal decrees and government initiatives to support the private sector will limit the financial impact resulting from the COVID-19 precautionary measures.

 

Any developments will be disclosed in due course, the statement noted.

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