From Gulf-times.com: The GCC banks, which are expected to register 13%-15% growth in their profits in 2009, remains robust to “comfortably” absorb severe asset deterioration and provisions, according to Global Investment House report.
“The GCC banking sector as a whole remains robust despite its asset quality issues. With high capital adequacy ratios, the banking sector remains in a comfortable position to absorb severe asset deterioration,” Global said………………………….Full Article: Source