Regional Awards for Excellence 2013: Middle East
After the financial shocks of 2008 and 2009, followed by regional uprisings, confidence at Arab banks appears to be gradually re-emerging.
The immediate future appears less uncertain. From presidential offices to corporate boardrooms, leadership change triggered by the regional financial and political crises has, in many cases, settled down.
Credit is more readily available – from regional as well as global sources. With provisions for crisis-era bad debt already set aside, asset prices have begun to recover, including stock markets from Abu Dhabi to Kuwait and property in Dubai.
True, Gulf banks are far from seeing a return to pre-2009 levels of opportunity for domestic growth in such areas as real estate, despite improved local liquidity.