Marc Ellsmore News Today

Dubai: Omani banks’ are likely to face further deterioration in asset quality in 2021 due to the lingering impact of economic disruption caused by the pandemic and the government’s restrictive fiscal policy, according to Fitch Ratings. “We expect the sector’s Stage 3 loans ratio [credit losses, classified under IFRS-9] to increase by 100 basis points (bps) to 150bps from 4.4 per cent at end-2020 as borrower support measures expire and loan classification normalizes,” the raging agency...