Gulf banks outlook for 2020 stable amid substantial liquidity: Moody's | ZAWYA MENA Edition:
The outlook of Gulf Cooperation Council (GCC) banking systems is stable for next year driven mainly by strong capital buffers, solid economic growth and substantial liquidity, according to Moody’s Investors Services.
"Government spending programs will push average non-hydrocarbon GDP growth to 2.6 percent in 2020, providing favourable operating conditions for the region's banks," said Nitish Bhojnagarwala, Vice President - Senior Credit Officer at Moody's.
"Declining interest rates will start to pressure banks' net interest margins but margins will remain strong compared with global peers." he added.
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