Banks in the Gulf are recovering from a turbulent start to the year, but question marks remain for lenders in the UAE, Bahrain and Kuwait, according to a report from Standard and Poor's.
"We believe the financial profiles of most of the GCC banks we rate will remain relatively stable or keep improving, but slowly because of sluggish loan growth and difficult funding conditions," the credit ratings agency said in the report.
It was hoped banks' troubles in the UAE would have eased after a recent string of improved profits, although the recent rescue of Dubai Bank by the emirate's Government had served as a reminder of the difficult conditions for lenders.
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