GCC corporate banking on recovery track, says The Boston Consulting Group
The latest report by the Boston Consulting Group (BCG) shows that GCC corporate banking profitability is on its way to recovering from the turmoil of the financial crisis.
Altough, as Loan Loss Provisions (LLPs) culminated in 2009 and corporate banking profitability consequently declined to levels below those of 2007, LLPs began to decrease in 2010 and have continued to decrease in the first half 2011.
Saudi Arabia has been at the center of this upward profit trend with the greatest annual increase in corporate banking profitability at 45% per year since 2009. Other GCC countries have shown a flat trend in profitability with the exception of Bahrain.
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