Banks in the GCC region will increase mergers and acquisitions because of the coronavirus crisis and prolonged low oil prices, said Moody’s Investor Service in a new report. "The banks now face larger cost adjustments as low oil prices and the coronavirus fallout constrain growth opportunities and severely dent their profitability," said Badis Shubailat, Analyst at Moody's. "This is prompting a new wave of mergers as banks seek ways to ...