REGIONAL

 

Gulf Banks Continue Recovery Despite Eurozone Crisis, Says S&P

Gulf banks will continue their steady recovery from the 2008 global financial crisis and remain isolated from Eurozone turmoil for the rest of 2012 and 2013, forecasts Standard & Poor’s Ratings Services (S&P) in its latest report on the sector. The trend of declining loan loss provisions will continue for most GCC banks, resulting in further recovery in net profits...