Investment banks face added risk in the Middle East following COVID-19 pandemic – AMEinfo

Investment banks face added risk in the Middle East following COVID-19 pandemic – AMEinfo

Oliver Wyman and Morgan Stanley have released a report highlighting that in the event of a rapid economic rebound following the COVID-19 pandemic, the impact on wholesale and investment banks' earnings are even more at risk in GCC countries.. Entitled 'Steering through the next cycle', the new report outlines three potential scenarios for the evolution of the COVID-19 pandemic and its economic impacts on investment banks, ranging from a rapid rebound to a deep global recession, assessing the implications for wholesale banks over the medium-term.. "Although GCC countries are resilient, in the event of our worst case scenario, corporate defaults would increase alongside cost of risk by up to 200 per cent..