The rated banks in the GCC continued to display good asset quality indicators, profitability, and capitalisation in 2016 by global standards, albeit with signs of deterioration from 2015, said a report by S&P Global Ratings.
The larger local banks in the GCC are approaching saturation in their home market and are starting to venture out to attractive markets such as Africa, says a new report from EY, a leading professional services firm.
Dubai, UAE in
The banking industry in the GCC grew at a lower rate in 2015 than it did in 2014 with just a 7.2 per cent increase, stemming almost exclusively from major customer segments such as retail and corporate banking, a report said.
Arqaam Capital, the specialist emerging and frontier markets investment bank, expects GCC banks to issue $43 billion of Basel III compliant debt by 2019 in order to improve the quantity and quality of their capital base.
Banks in the GCC, which reported a good set of gains in the first half of 2015, could see a weakening in earnings over the next several quarters due to the knock-on effects of lower oil prices on growth and asset quality, a report said.
Qatar's central bank is to grant licences to Gulf Cooperation Council (GCC) banks to open branches in the state, the government said on Wednesday.
Qatar already has a relatively large number of banks - around 18 - servicing a
The outlook for banks across the Mena region signals a diverging trend, with stable prospects for GCC banks contrasting with unsettled conditions in rest of Mena region, a report said.
The outlook is split between the buoyant oper
The 49 Moody’s-rated banks across the GCC are likely to continue to face structural asset-quality challenges and elevated event risks over the next credit cycle, said Moody’s Investors Service.
However, the rating agency pointed out that g
GCC banks are gradually expected to recover from the impact of the crisis on the back of stimulus plans initiated by the official authorities and the central banks, said a report.
"The future expectations in the banking sector is condition