Experts see positive outlook for Saudi banks

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After several years of stabilizing asset quality, declining credit losses, and improving returns, banks in the Gulf are navigating rougher waters, Standard & Poor's said in a report published on Tuesday. Global oil prices have plummeted since June 2014, and Standard & Poor's expects them to remain relatively weak through 2016. This means, given the importance of oil-related revenues in the region's eco**my, a gradual weakening in eco**mic conditions for the sovereigns of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE), which comprise the Gulf Cooperation Council (GCC).

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