From Saudigazette.com.sa: The economies of the six-member Gulf Cooperation Council are forecast to post growth, with their banks expected to perform better this year amid steady high oil prices, the Kuwait-based Global Investment House (GIH) said in a study.
“Starting 2010, the major question that lingers in the minds of investors is whether the worst is over? We believe that the GCC banks collectively have already seen the worst and 2010 will be a year of asset and profit consolidation before the banks embark on a steeper profitability trajectory in the years ahead,” the study said………………………………..Full Article: Source