VOL. XXXIX

No. 54

7-October-1996

REGIONAL BANKING

Gulf Banks Prosper As International Participation In Region Banking Increases

Banking in the Gulf region has been for the most part a highly profitable business for locally incorporated banks over the past 18 months. The benefits of higher oil prices on the economies of the six member states of the Gulf Cooperation Council (GCC) fed through to the balance sheets and profits of the commercial banks in 1995, and it looks, so far at least,...