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Wednesday, 14 March 2018

Better times ahead for Gulf financiers, says Moody's | ZAWYA MENA Edition

Better times ahead for Gulf financiers, says Moody's | ZAWYA MENA Edition:

"The banking sector in the Gulf is likely to benefit from credit growth in 2018 as activity in the region's non-oil sector picks up, despite a likely rise in non-performing loans in the region's two biggest banking markets, according to Moody's. Olivier Panis, a senior credit officer with the ratings agency, told journalists during a briefing in Dubai on Tuesday that the "slow and gradual recovery in economic growth - particularly in non-oil economic growth" would help to boost the credit growth of banks in the region by between 4 percent in Saudi Arabia and 6-7 percent in Oman and Kuwait. This compares with a decline in credit growth in Saudi Arabia in 2017 and an "almost flat" credit market in the United Arab Emirates over the same period, Panis said."



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