(MENAFN) Credit growth in the GCC is predicted to slow to 5 percent, as the quality of loan growth and lending standards degrades.
However, credit growth viewed slowing due to slower non-oil GDP growth, with a market slowdown in deposit growth.
Additionally, some of that loan growth is stemming from increasing working capital needs, rather than an improvement in business sentiment.
Moreover, it was suggested a reduced willingness to extend business loans amid financial institutions, with changes in credit standards.
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