Middle East Economic Survey

VOL. LIII

No 36

6-Sep-2010

REGIONAL

Gulf Banks Recovering Despite $20Bn Loan Losses And Impairments, According To S&P

The Gulf banks appear to be showing signs of improvement after spending more than $20bn on loan loss provisions and investment impairments since 2008, according to Standard & Poors Ratings Services (S&P). In a report titled Gulf Banks Are Weathering The Storm But Still Face Tight Liquidity, the rating agency maintains that the economies in...