GCC banks ‘could show broad stability across key metrics’

GCC banks and banking systems should exhibit broad stability across key metrics in 2024, S&P Global Ratings has said in a report.

Entitled ‘GCC Banking Sector Outlook 2024: A Relative Bright Spot Among Emerging Markets,’ the report said S&P forecasts credit growth and profitability remaining strong for most, but anticipates a slight softening from 2023 levels. In general, the region’s banks will continue to stand out as being well-capitalised, profitable, well provisioned, and (for the most part) liquid.

“We expect broad stability…