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Friday, 17 February 2017

GCC lenders set for profit dip as asset growth slows and liquidity tightens | The National

GCC lenders set for profit dip as asset growth slows and liquidity tightens | The National:

"The net income of Arabian Gulf banks is forecast to drop by 5 to 7 per cent this year as the sector grapples with weak revenues and higher credit losses, according to Standard & Poor’s. Bank profitability decreased last year amid a rise in money set aside to cover bad debts and slower loan growth as economies in the region slowed. "Operating revenues are ­weakening, credit losses increasing and the net bottom line is under pressure," said Suha Urgan, S&P’s Dubai-based lead analyst for financial institutions."



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