Over The Worst? Regional Banking Sector Outlook Assessed

BMI View: Middle Eastern banks have not lost anything like the amount written off by Western lenders, but overextended loan books, in conjunction with a collapsing housing market and much lower liquidity in the system, will certainly keep things challenging in 2009. Investors may find the less developed banking sectors of Syria, Egypt and Iraq more interesting over the next few years, with Iran a longer-term possibility worth keeping an eye on.

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