GCC Banks Financial Stabilityby Forbes Middle East Forbes Middle East - Business News
Banks in the Gulf Cooperation Council (GCC) are expected to see more stabilization in financial profiles and performance in 2018, according to ratings firm S & P Global Ratings. Recommended Features
- Saudi Arabia
- United Arab Emirates
Review on GCC Banks Financial StabilityThis stabilization is anticipated to occur during the second half of 2018, barring unforeseen economic and political events and geopolitical risk. In their Industry Report Card, S & P Global Ratings stated that the GCC banks profitability is expected to stabilize as well, however, it will be at a lower level than previously documented.
This is also grounded in an increased cost of risk caused by a promotion of new accounting standards in banks and the introduction of value added tax, which some banks plan to pass on to clients. In addition to an increased cost of risk, mutual loan growth also poses a threat to the expected balance in profitability and financial performance.
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Created on Jan 12th 2018 04:49. Viewed 220 times.
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