Middle Eastern bank management: Expansion remains top of the agenda for confident bank chiefs
The Middle East's most successful banks remain on a determined course for growth, both regionally and in terms of the products they offer. Will the boom in financial markets and services continue, despite political uncertainty and the contagion of the credit crunch?
Participants in this discussion
Saad Azhari, Blom Bank
Our treasury placement philosophy is very conservative, so our portfolio did not at any point include hedge fund placements, mortgage-related CDOs and any securities that have suffered major losses in the credit crisis. As for our private banking customers, we had not recommended any such securities so there have been very few losses.
Economies of the Levant countries, which constitute our main battleground, are more sensitive to oil wealth and geopolitical developments and have therefore been so far insulated from the global recession.