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Gulf banks

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The Worst is Yet to Come for GCC Banks As Impact of Bad Loans Looms
July 30th, 2020 - 06:00 GMT

The Worst is Yet to Come for GCC Banks As Impact of Bad Loans Looms

Most Gulf banks' profits plunged in the second quarter after a spike in impairment charges for expected credit losses, as regional economies reel from the double blow of low oil prices and the coronavirus outbreak. But the banks may need to set aside even more money in the second half of the year to cover bad loans, as their full impact on banks has so far been curbed by stimulus ...
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