Gulf banks thrive despite downturn
A consolidation wave has broken over the Arab banks. In Bahrain, Gulf International Bank and Saudi International have created a new giant. In Saudi Arabia, Saudi American Bank and United Saudi Bank merged. Years of low oil prices and weak economies are the spur, though banks are still making profits. Commentary by Andrew Beikos and Elena Antoniou
investor in Saudi banks
controls largest Lebanese
Reflecting the oil wealth of the Gulf Co-operation Council (GCC) countries, the GCC banks, as in previous years, continue to dominate the top 100 Arab banks.