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Gulf banks may still see rise in bad loans, says IMF
- Middle East: Wednesday, October 28 - 2009 at 09:29
Gulf banks may still face an increase in bad loans but it would take a very large increase in non-performing loans before the need arises for a significant bank recapitalisation, an official at the International Monetary Fund told Reuters. Masood Ahmed, the IMF director for Middle East and Central Asia, said some banks in the GCC may still need to be recapitalised in the future to cope with bad loans, but tests show a large capital injections may be needed only if volumes of bad loans rise sharply.
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StaffWednesday, October 28 - 2009 at 09:29 UAE local time (GMT+4)
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