As banks in much of the rest of the world struggle to shore up balance sheets ravaged by weak economies, banks in the Gulf are sucking in capital for a very different reason: to fund expansion plans.
The contrast means the Gulf banks are likely to be able to raise money cheaply and relatively easily, helping them compete as they move into markets overseas and challenge some of the big international institutions.
"Our growth rates have been phenomenal in the last few years and because of that growth, we needed to refuel after a certain stage," Tirad Mahmoud, chief executive of Abu Dhabi Islamic Bank (ADIB), told Reuters after his bank raised $1 billion of capital this month.
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