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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