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GCC banks to fare positively in fiscal 2010: Global

Posted on 16 November 2009

From Gulfbase.com: The GCC banks experienced a significant profit decline in 3Q09 as compared to the previous year; down 9%YoY for the quarter and down 13%YoY for the 9M09 periods, the Kuwait-based Global Investment House stated here yesterday.
Bottom lines of Saudi and UAE banks, however, were less impacted despite the fact that banks from these countries were the major contributors of non-performing loans, and consequently provisions……………………..Full Article: Source

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