Executive Summary
- GCC corporate earnings continue their recovery story, rising 17% in Q2'21 to touch $45,307 million.
- The growth narrative slowed down a little in the fourth quarter of 2020, declining 4% quarter on quarter with a surge in covid cases around the world. But 2021 has set the optimism back on track, with earnings nearly doubling from $24,199 million in Q4'2020 to $45,307 million in Q2'2021.
- It is interesting to note that one of the the heavy weight sector contributing to total earnings growth was the Banking sector, that marked an increase of 47% respectively in H1 2021 vis-à-vis H1 of 2020, despite increasing in revenue by a sheer 6%. This rise in banking earnings is attributed to lowering provisions for bad loans that were recorded in the prior quarters due to higher expected credit losses.
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Experienced and qualified team of Marmore Mena Intelligence has prepared this report. Since its inception, Marmore has published over 1000 research reports and covered more than 25 varied industries and policy segments; all focused primarily on the GCC economies.
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The report spans 19 pages
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