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RIYADH: A robust oil and gas sector, high interest margins, and fintech innovation will help drive banking sector growth across the Gulf Cooperation Council region in 2024 and beyond, according to a new report.
Analysis by global management consulting firm McKinsey & Co. found that despite global macroeconomic volatility, the region’s financial institutions outperformed their international counterparts in 2023 due to an exceptional operating environment, and the sector is set for a strong performance this year.
Global banking faces…