Gulf Banks Can Absorb $36 Billion in New Credit Losses, S&P Says
- Banks’ profitability will help them weather economic storm
- Despite capital buffers, banks face decline in 2020 profits
Riyadh
Photographer: Waseem Obaidi/Bloomberg
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Banks in the Persian Gulf can absorb as much as $36 billion in new credit losses before their capital base starts to erode, placing them in a strong position to weather the current economic headwinds, according to S&P Global Ratings.