A GCC market trading hall
Consolidation among GCC banks may gain momentum if lower oil prices add to competitive pressure in the region, Fitch Ratings said in a recent report.
Sustained lower oil prices and weaker global demand may put pressure on GCC bank operating environments, leading to weaker profitability and acting as a catalyst for M&A as banks seek to diversify their revenues and increase scale. Smaller banks may become targets due to their weaker franchises, and often higher funding costs and thinner capital buffers.
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