UAE banks continue to top GCC with $723b worth of assets | GulfNews.com

UAE banks continue to top GCC with $723b worth of assets | GulfNews.com:

"The UAE banking sector has continued to top other GCC (Gulf Cooperative Council) counterparts in terms of assets value in the first half of 2017, with a total value of $723 billion in 48 banks operating in the country, a growth rate of 1.7 per cent compared to 2016. According to experts, the UAE banking sector’s continuation of being ranked first represents an evidence of the financial solvency it enjoys given the open financial and economic policy being adopted by the country, which resulted in encouraging many international financial institutions to invest in this sector. According to a study published by First Abu Dhabi Bank, the Saudi banking sector came second with a total asset value of $611 billion (in the first half), a growth rate of 1.5 per cent compared to $602 billion in 2016. Kuwait was third with $206 billion, followed by Bahrain with $185 billion and Oman with $80 billion."



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