The banking sector in the Gulf region experienced seven percent revenue growth in 2011 after revenues had stagnated the year before, according to a new study by The Boston Consulting Group (BCG).
The study, which covers 34 banks across Saudi Arabia, Bahrain, Kuwait, Qatar, Oman, and the UAE, showed profits across the region also increased significantly in 2011 and reached the highest level since 2007.
Dr Reinhold Leichtfuss, senior partner and managing director in BCG's Dubai office, said: "The performance of Middle East banks in 2011 testifies to the strength of the GCC economies and banking systems.
No comments:
Post a Comment