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UAE banks' Q1 earnings will reflect continued pressure on profitability

Dubai: UAE banks reporting their first quarter results for 2021 starting this week are expected to reflect continued pressure on their profitability, largely due to margin pressures, modest loan growth and slow growth in non-interest income streams.
The aggregate net profit of the top 10 UAE banks declined by about 40 per cent year on year in 2020, on the back of lower operating income and increased provisions, according to data analysed by Alvarez & Marsal (A&M) and KPMG.
A&M expects the operating environment for the UAE’s banking sector to remain less volatile in 2021 compared to last year, although profitability isexpected to remain under stress. ....

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Top 10 UAE banks' profits shrunk 40% in 2020: A&M

Top 10 UAE banks' profits shrunk 40% in 2020: A&M
gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.

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Why Saudi banks are better positioned in 2021 compared to GCC peers

Non performing loans and margin pressures to persist
Saudi banks are entering 2021 from a position of advantage with higher loan growth and relatively low impairments.
Image Credit: Bloomberg
Dubai: Saudi banks are entering the New Year from a position of advantage with higher loan growth and relatively low impairments reported in in the first three quarters of 2020.
Despite the challenging operating environment posed by COVID-19 and drastic fall in oil prices, 2020 was not such a bad year for the Saudi Banks, according to Bank of America Merrill Lynch (BoAML) analysts.
The Saudi banks, like others in the Middle East North Africa region, have faced the perfect storm of falling interest rates and a weak and increasingly uncertain economic outlook, with the Saudi economy forecast to shrink 5.6 per cent by the IMF in 2020. ....

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Why 2021 will be a less volatile year for UAE banks

Dubai: The UAE banks are expected to face a much lesser volatile operating environment in 2021 compared to last year, however, the lingering impact from 2020 will continue to pressure profits and asset quality, according to analysts.
Banks are expected to report in excess of an average 20 per cent year on year decline in profits for the whole of 2020 with earnings outlook remaining modest in 2021.
The UAE banks have suffered the effects of three pronged storm in 2020 including a weak economic backdrop, the impact of the global pandemic and geo political tensions, according to a recent analysis by Bank of America Merrill Lynch (BoAML). ....

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Saudi banks' profitability improve on lower provisions and higher income

Dubai: The profitability outlook for Saudi banks showed signs of improvement as increased operating income and reduced provisioning supported return ratios, said an analysis of third quarter results by professional services firm Alvarez & Marsal (A&M).
“While we have witnessed an overall improvement in profitability this quarter, the near-term outlook for Saudi banks looks bearish,” said Asad Ahmed, A&M Managing Director and Head of Middle East Financial Services.
“The Saudi government’s announcement to cut budget spending by 7.5 per cent in 2021 could have a spill-over effect in other sections of economy.”
Balance sheet growth
Saudi Arabia’s top 10 banks reported an increase in loans and advances which grew at a faster pace in Q3 2020 (3 per cent quarter on quarter, compared to 1.9 per cent in the previous quarter. ....

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