REGIONAL
S&P: Gulf Banks Continue Recovery
Gulf banks are expected to continue their steady recovery from the global financial crisis this year, aided by healthy economic growth in the GCC and high oil prices, says Standard & Poor’s Ratings Services.
S&P forecasts an average 4.6% GDP growth in the GCC for 2013, which should keep demand for bank credit high and expand banks’ earnings, said the ratings agency. “We believe...
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