Gulf banks’ assets jump 3.1% to $2.3trln in third quarter | ZAWYA MENA Edition:
GCC banks continued to strengthen their aggregate balance sheets during Q3-2019 as listed banks in all six GCC countries reported higher total assets during the quarter that increased by 3.1 per cent to $2.3 trillion compared with $2.2trn at the end of Q2-2019.
According to a report by Kuwaiti firm Kamco Research, each of the six GCC countries showed an increase in net loans and customer deposits.
A slightly better loan-to-deposit ratio in three countries helped to partly offset the impact of a decline in market rates during the quarter.
The asset growth during the quarter was once again led by conventional banks that grew assets at 3.6pc quarter-on-quarter (QoQ) while Islamic banks increased their balance sheet size at a slightly slower pace of 1.4pc.
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