Banks in the Gulf Arab region are unlikely to witness the high growth levels seen before the financial crisis as real-estate-driven lending and income growth subsides, the Boston Consulting Group said on Tuesday.
Middle East banks saw rapid growth rates between 2005 and 2008 but were severely hurt during the financial crisis and were forced to curb lending and set aside more money to meet loan losses due to some high-profile corporate defaults……………………………………….Full Article: Source