May 28 2011 |
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Saudi Hollandi Bank Inks Deal With IFC To Support Local SMEs -Report
Saturday, May 28, 2011
BEIRUT (Zawya Dow Jones)-- Saudi Hollandi Bank (1040.SA), or SHB , has signed an agreement to get advice from the International Finance Corp., or IFC, to expand and develop its products and services to small and medium-sized enterprises, or SMEs, Saudi-based Al Riyadh daily reports Saturday.
IFC , a member of the World Bank Group, will provide assistance to the lender to expand the scope of its services to local SMEs, and to offer them additional innovative financing and banking instruments and solutions, the paper reports citing Bernd Van Linder, SHB 's managing director.
The first phase of the cooperation agreement is expected to be completed by the end of 2011, the daily reports.
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
(END) Dow Jones Newswires
28-05-11 0729GMT
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