GCC: Banks’ Profits to Plummet in 2020 Due to COVID-19, Low Oil Prices

GCC: Banks’ Profits to Plummet in 2020 Due to COVID-19, Low Oil Prices

Banks in the GCC region will see profits fall this year as economies shrink amid the coronavirus outbreak and lower oil prices but have adequate capital underpinning their solvency, Moody's Investors Service said in a report...