| From Gulf-times.com: Qatar’s banking industry may see a 12% year-on-year (y-o-y) rise in provisions to $382mn this year; nevertheless the sector is expected to post a 33% growth in net profits to about $3.9bn, according to Kuwait Financial Centre (Markaz).
The jump in GCC banks’ provisions against impairment of assets and credit loss comes against an expected 7% y-o-y dip in provisions of the regional lenders to $8.76bn, said Markaz, which highlighted that Gulf banks are estimated to have made provisions to the tune of $9.4bn for 2009, a massive 40% jump from the previous year........................................Full Article: Source
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