Middle East regional awards

With the exception of extremely volatile regional stock markets that have hit the profits of some banks and their customers, the dynamic economies of the Middle East have created a benevolent environment for the region’s banks. High oil prices have enabled governments, particularly in the Gulf, to reduce debt, pay private sector contractors more promptly, deliver annual surpluses and invest in infrastructure.

This has provided banks with solid deposit bases with which to meet the demand for credit from confident corporate and personal customers, as well as generating an investment banking boom for the billions of dollars of private and public sector project finance.