GCC: An Oases Of Calm, For Now
Global Finance | July 24, 2023
Rajul Sood, Managing Director, Lending Services, Acuity Knowledge Partners, recently shared her comments on Gulf Cooperation Council (GCC) banks appear to be well-positioned to weather the storm. The article talks about GCC banks have strong balance sheets and high levels of liquidity, which has helped them weather the storm. However, analysts caution that GCC banks' defenses against a local bank run might come under pressure as the global situation evolves. For now, customer confidence remains intact, and deposits are mainly stable.
‘These challenges are not expected to pose a threat to the banks’ existence, because governments in the region remain supportive—as they are key stakeholders in the banks—and the banks are well capitalized’, she explains.
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