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Middle East banks offer good value, says EFG-Hermes
- Egypt: Thursday, October 08 - 2009 at 09:09
Egypt-based EFG-Hermes has said that Middle East banks still present attractive value compared to international peers, with return on equity expected to remain around 20% over the medium term for most banks, Reuters has reported. Banks in Qatar, Saudi Arabia and Oman were likely to show the quickest recovery, with credit growth expected to go up to a range of 12% to 15% in 2010 after having dipped to 4% to 6% in 2009, it said. The UAE is in better shape than was feared, the investment bank added.
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StaffThursday, October 08 - 2009 at 09:09 UAE local time (GMT+4)
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