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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 said. Oman’s GDP contracted by 4.9 per cent in 2020. Challenging economic conditions are likely t...

Share this article Share this article GLENS FALLS, N.Y., April 27, 2021 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) announced operating results for the three-month period ended March 31, 2021. Net income for the first quarter of 2021 was $13.3 million, compared to $8.1 million in the first quarter of 2020. Net interest income increased to $26.2 million in the first quarter of 2021, compared to $23.0 million for the comparable quarter of 2020. Annualized key profitability ratios remained strong, as measured by a return on average equity (ROE) of 15.81% and a return on ave...

Development conference under the theme “The Role of Financial Inclusion in a COVID-19 Pandemic”. I would like to thank the Telecommunications Chamber and the Financial Inclusion Forum for their commitment to sustaining this event, and also the invitation to the Bank of Ghana to be part of this important event. This year’s event is taking place at an unprecedented time in recent global history, and provides an opportunity for stocking of our digitization efforts as well as retooling strategies for effectiveness. Governor’s speech on “The Role of Regulators in Advancing Financial Incl...

Economy - MPC pauses; announces CRR normalisation - ICICI Securities

5224 Mumbai, February 5 The Reserve Bank of India (RBI) on Friday kept interest rates on hold for the fourth time in a row but vowed to support growth as long it is needed even as it began withdrawing some pandemic-era policies. While the Union Budget 2021 earlier this week laid out an expansive fiscal strategy over the medium term to strengthen the growth engine in the economy, the RBI affirmed its support to such a plan through appropriate monetary tools. The six-member Monetary Policy Committee (MPC) kept the repurchase or repo rate unchanged at 4 per cent, said Governor Shaktikanta Das. C...