financeФинансы: теория и практика/Finance: Theory and PracticeFinance: Theory and Practice2587-56712587-7089Financial University under The Government of Russian Federation10.26794/2587-5671-2022-26-4-171-180finance-1734Research ArticleМЕЖДУНАРОДНЫЕ ФИНАНСЫINTERNATIONAL FINANCEСравнительный анализ финансовых показателей крупнейших банков стран Персидского залива во время пандемииA Comparative Financial Performance of the GCC ’s Largest Banks During the Pandemichttps://orcid.org/0000-0003-4129-743XХарузиС. АльKharusiS. Al

Сами Аль Харузи - PhD, доцент, Колледж экономики и политологии

Маскат

Sami Al Kharusi - PhD, Assistant Professor, College of Economics and Political Science

Muscat

ksami@squ.edu.omhttps://orcid.org/0000-0002-0013-2535МуртиШ. P.MurthyS. R.

Шри Pама Мурти - PhD, доцент, Колледж экономики и политологии

Маскат

Sree Rama Murthy - PhD, Assistant Professor, College of Economics and Political Science

Muscat

murthy@squ.edu.omУниверситет Султана КабусаОманSultan Qaboos UniversityOman202211092022264171180Copyright © Харузи С., Мурти Ш.P., 20222022Харузи С., Мурти Ш.P.Kharusi S., Murthy S.R.This work is licensed under a Creative Commons Attribution 4.0 License.https://financetp.fa.ru/jour/article/view/1734

Авторы исследуют финансовые показатели крупнейших банков стран, входящих в Совет сотрудничества арабских государств Персидского залива (ССАГПЗ), по общей сумме активов до и во время пандемии COVID‑19. Цель исследования — определить, как повлияла пандемия COVID‑19 на финансовые показатели банков. Использован метод анализа финансовых коэффициентов за период 2017–2020 гг. для оценки финансовых показателей крупнейших банков стран, расположенных в основном в Саудовской Аравии, Катаре, Объединенных Арабских Эмиратах, Кувейте, Омане и Бахрейне. Коэффициенты охватывают такие ключевые области деятельности, как рентабельность, эффективность, ликвидность, качество активов, риск активов и управление расходами. Два значимых события в 2020 г. — пандемия COVID‑19 и резкое падение цен на нефть — привели к резкому снижению темпов роста ВВП региона со среднего значения –0,09% в 2019 г. до –5,9% в 2020 г., что, как ожидается, негативно скажется на показателях деятельности банков. Используя парный выборочный t-тест, авторы получили статистически значимые результаты, подтверждающие вывод, что финансовые показатели всех банков в 2020 г. пострадали почти по всем ключевым параметрам по сравнению с предыдущим периодом. Это можно объяснить снижением экономической активности из-за COVID‑19. Фокус данного исследования и его выводы обладают научной новизной, поскольку тема влияния COVID‑19 на крупнейшие банки стран ССАГПЗ еще не получила отражения в научных работах. Выводы исследования важны для регулирующих органов, которые не заинтересованы в том, чтобы крупные банки потерпели крах.

This paper investigates the financial performance of the largest Gulf Cooperation Council (GCC) banks by total assets before and during the recent COVID‑19 pandemic. The purpose of the study was to identify the impact of the COVID‑19 pandemic on banks’ financial performance. Financial ratios analysis during the period 2017–2020 is employed to measure the financial performance of the largest GCC banks mainly based in Saudi Arabia, Qatar, United Arab Emirates, Kuwait, Oman, and Bahrain. The ratios cover key performance areas such as profitability, efficiency, liquidity, asset quality, asset risk, and expense management. Two significant developments in 2020 are the COVID‑19 pandemic and severe drop in oil prices, both of which led to a sharp drop in the region’s GDP growth rate from an average of –0.09% in year 2019 to –5.9% in 2020, which in turn is expected to negatively impact bank performance. Using paired samples t-test the research study found statistically significant results that the financial performance of all banks suffered on almost all the key parameters in 2020 compared to the earlier period which can explained by the decline in economic activity due to COVID‑19. The focus of this study and its conclusions are novel to the extent that there are no country specific studies related to impact of COVID 19 on the biggest banks in a country. Further as far as the authors know there are no studies on the topic of impact of COVID‑19 on big banks operating in the Gulf cooperation council countries. The conclusions of the study would of importance to the regulators who would not like the big banks to fail.

ССАГПЗпандемияфинансовые показателиCOVID‑19банкиGCCpandemicfinancial performanceCOVID‑19banksReferencesAl Kharusi S., Weagley R. O. Weak form market efficiency during the 2008 financial crisis: Evidence from the Muscat Securities Market. The International Journal of Business and Finance Research. 2014;8(4):27–42.Al Kharusi S., Weagley R. O. Weak form market efficiency during the 2008 financial crisis: Evidence from the Muscat Securities Market. The International Journal of Business and Finance Research. 2014;8(4):27–42.Desai R. Impact of priority sector lending on financial profitability: Segment wise panel data analysis of Indian banks. Management & Accounting Review. 2021;20(1):19–38. URL: https://ir.uitm.edu.my/id/eprint/47752/1/47752.pdfDesai R. Impact of priority sector lending on financial profitability: Segment wise panel data analysis of Indian banks. Management & Accounting Review. 2021;20(1):19–38. URL: https://ir.uitm.edu.my/id/eprint/47752/1/47752.pdfAldasoro I., Fender I., Hardy B., Tarashev N. Effects of COVID-19 on the banking sector: The market’s assessment. BIS Bulletin. 2020;(12). URL: https://www.bis.org/publ/bisbull12.pdfAldasoro I., Fender I., Hardy B., Tarashev N. Effects of COVID-19 on the banking sector: The market’s assessment. BIS Bulletin. 2020;(12). URL: https://www.bis.org/publ/bisbull12.pdfWójcik D., Ioannou S. COVID-19 and finance: Market developments so far and potential impacts on the financial sector and centres. Tijdschrift voor economische en sociale geografie. 2020;111(3):387–400. DOI: 10.1111/tesg.12434Wójcik D., Ioannou S. COVID-19 and finance: Market developments so far and potential impacts on the financial sector and centres. Tijdschrift voor economische en sociale geografie. 2020;111(3):387–400. DOI: 10.1111/tesg.12434Al-Askari A., Alhamdan S., Jweied S. GCC countries back on path to economic growth after contraction due to the pandemic. The World Bank. Aug. 04, 2021. URL: https://www.worldbank.org/en/news/press-release/2021/08/03/gcc-countries-back-on-path-to-economic-growth-after-contraction-due-to-the-pandemicAl-Askari A., Alhamdan S., Jweied S. GCC countries back on path to economic growth after contraction due to the pandemic. The World Bank. Aug. 04, 2021. URL: https://www.worldbank.org/en/news/press-release/2021/08/03/gcc-countries-back-on-path-to-economic-growth-after-contraction-due-to-the-pandemicAl-Kharusi S., Murthy S. R. Financial stability of GCC banks in the COVID-19 crisis: A simulation approach. The Journal of Asian Finance, Economics, and Business. 2020;7(12):337–344. DOI: 10.13106/jafeb.2020.vol.7.no12.337Al-Kharusi S., Murthy S. R. Financial stability of GCC banks in the COVID-19 crisis: A simulation approach. The Journal of Asian Finance, Economics, and Business. 2020;7(12):337–344. DOI: 10.13106/jafeb.2020.vol.7.no12.337Ҫolak G, Öztekin Ö. The impact of COVID-19 pandemic on bank lending around the world. Journal of Banking & Finance. 2021;133:106207. DOI: 10.1016/j.jbankfin.2021.106207Ҫolak G, Öztekin Ö. The impact of COVID-19 pandemic on bank lending around the world. Journal of Banking & Finance. 2021;133:106207. DOI: 10.1016/j.jbankfin.2021.106207Rababah A., Al-Haddad L., Sial M. S., Chunmei Z., Cherian J. Analyzing the effects of COVID-19 pandemic on the financial performance of Chinese listed companies. Journal of Public Affairs. 2020;20(4): e2440. DOI: 10.1002/pa.2440Rababah A., Al-Haddad L., Sial M. S., Chunmei Z., Cherian J. Analyzing the effects of COVID-19 pandemic on the financial performance of Chinese listed companies. Journal of Public Affairs. 2020;20(4): e2440. DOI: 10.1002/pa.2440Flögel F., Gärtner S. The COVID-19 pandemic and relationship banking in Germany: Will regional banks cushion an economic decline or is a banking crisis looming? Tijdschrift voor economische en sociale geografie. 2020;111(3):416–433. DOI: 10.1111/tesg.12440Flögel F., Gärtner S. The COVID-19 pandemic and relationship banking in Germany: Will regional banks cushion an economic decline or is a banking crisis looming? Tijdschrift voor economische en sociale geografie. 2020;111(3):416–433. DOI: 10.1111/tesg.12440Elnahass M., Trinh V. Q., Li T. Global banking stability in the shadow of COVID-19 outbreak. Journal of International Financial Markets, Institutions and Money. 2021;72:101322. DOI: 10.1016/j.intfin.2021.101322Elnahass M., Trinh V. Q., Li T. Global banking stability in the shadow of COVID-19 outbreak. Journal of International Financial Markets, Institutions and Money. 2021;72:101322. DOI: 10.1016/j.intfin.2021.101322Devi S., Warasniasih N. M., Masdiantini P. R., Musmini L. S. The impact of COVID-19 pandemic on the financial performance of firms on the Indonesia Stock Exchange. Journal of Economics, Business, & Accountancy Ventura. 2020;23(2):226–242. DOI: 10.14414/jebav.v23i2.2313Devi S., Warasniasih N. M., Masdiantini P. R., Musmini L. S. The impact of COVID-19 pandemic on the financial performance of firms on the Indonesia Stock Exchange. Journal of Economics, Business, & Accountancy Ventura. 2020;23(2):226–242. DOI: 10.14414/jebav.v23i2.2313Demirgüç-Kunt A., Pedraza A., Ruiz-Ortega C. Banking sector performance during the COVID-19 crisis. Journal of Banking & Finance. 2021;133:106305. DOI: 10.1016/j.jbankfin.2021.106305Demirgüç-Kunt A., Pedraza A., Ruiz-Ortega C. Banking sector performance during the COVID-19 crisis. Journal of Banking & Finance. 2021;133:106305. DOI: 10.1016/j.jbankfin.2021.106305Fakhri U. N., Darmawan A. Comparison of Islamic and conventional banking financial performance during the COVID-19 period. International Journal of Islamic Economics and Finance. 2021;4(SI):19–40. DOI: 10.18196/ijief.v4i0.10080Fakhri U. N., Darmawan A. Comparison of Islamic and conventional banking financial performance during the COVID-19 period. International Journal of Islamic Economics and Finance. 2021;4(SI):19–40. DOI: 10.18196/ijief.v4i0.10080Akkas E., Al Samman H. Are Islamic financial institutions more resilient against the COVID-19 pandemic in the GCC countries? International Journal of Islamic and Middle Eastern Finance and Management. 2022;15(2):331–358. DOI: 10.1108/IMEFM-07–2020–0378Akkas E., Al Samman H. Are Islamic financial institutions more resilient against the COVID-19 pandemic in the GCC countries? International Journal of Islamic and Middle Eastern Finance and Management. 2022;15(2):331–358. DOI: 10.1108/IMEFM-07–2020–0378Barua B., Barua S. COVID-19 implications for banks: Evidence from an emerging economy. SN Business & Economics. 2021;1(1):19. DOI: 10.1007/s43546–020–00013-wBarua B., Barua S. COVID-19 implications for banks: Evidence from an emerging economy. SN Business & Economics. 2021;1(1):19. DOI: 10.1007/s43546–020–00013-wMirzaei A., Saad M., Emrouznejad A. Bank stock performance during the COVID-19 crisis: Does efficiency explain why Islamic banks fared relatively better? Annals of Operations Research. 2022. DOI: 10.1007/s10479–022–04600-yMirzaei A., Saad M., Emrouznejad A. Bank stock performance during the COVID-19 crisis: Does efficiency explain why Islamic banks fared relatively better? Annals of Operations Research. 2022. DOI: 10.1007/s10479–022–04600-yTalbot D., Ordonez-Ponce E. Canadian banks’ responses to COVID-19: A strategic positioning analysis. Journal of Sustainable Finance & Investment. 2022;12(2):423–430. DOI: 10.1080/20430795.2020.1771982Talbot D., Ordonez-Ponce E. Canadian banks’ responses to COVID-19: A strategic positioning analysis. Journal of Sustainable Finance & Investment. 2022;12(2):423–430. DOI: 10.1080/20430795.2020.1771982Kharusi S. A., Weagley R. O. Return predictability in emerging markets during a unique market condition. Afro-Asian Journal of Finance and Accounting. 2016;6(4):339–350. DOI: 10.1504/AAJFA.2016.080519Kharusi S. A., Weagley R. O. Return predictability in emerging markets during a unique market condition. Afro-Asian Journal of Finance and Accounting. 2016;6(4):339–350. DOI: 10.1504/AAJFA.2016.080519Field A. Discovering statistics using SPSS. 3rd ed. London, Thousand Oaks, CA: SAGE Publications; 2009. 856 p.Field A. Discovering statistics using SPSS. 3rd ed. London, Thousand Oaks, CA: SAGE Publications; 2009. 856 p.

The authors declare that there are no conflicts of interest present.