GCC Banking - Markaz Research

Описание: After two consecutive years of declining bottom-line figures, the GCC banking sector resumed its trajectory of expanding profits in 2010/2011. The catalyst for this growth is declining provisions after the spikes witnessed in 2008/2009 as a result of the global financial crisis. Additionally, top line growth is expected to resume though not at previous rates due to continued loans and deposits growth weakness across the region. The YoY growth in total revenues of the GCC banking sector in FY2011, however, was a commendable 10%. The debt issues which caused a spike in provisioning are by no means history; however, muted private demand and rising NPLs remain sources of concern going forward.