Dubai: Fitch Ratings said yesterday that the difficult global economic environment has begun to have a negative impact on banks in the Gulf and made the outlook in 2009 for all banks more challenging.
The preliminary 2008 results released by the ten main commercial banks in Saudi Arabia confirmed that the fourth quarter was the worst quarter of the year for all the banks.
Nevertheless, the ten main commercial banks in Saudi Arabia remain among the highest rated by Fitch across the Gulf and generally have sound domestic franchises.
No comments:
Post a Comment