MUSCAT: The total assets of commercial banks operating in the Gulf Cooperation Council (GCC) countries rose by 10% by the end of 2024, reaching approximately $3.5 trillion, compared to the asset size at the end of 2023, according to the latest statistics released by the Gulf Statistical Centre.
The statistics indicate that the total deposits in the commercial banks operating within the GCC reached $2.1 trillion by the end of 2024, reflecting a growth rate of 9.6% compared to the end of 2023.
Deposits in commercial banks across all GCC countries rose by the end of 2024 compared to the previous year. Similarly, the total value of loans extended by the commercial banks in the GCC countries reached $2.1 trillion by the end of 2024, reflecting a growth rate of 9.9% compared to 2023.
The proportion of loans granted to the private sector from total loans in the GCC region reached 80.7%.
The percentage of non-performing loans (NPLs) from the total loans decreased in most GCC countries during the period from 2020 to 2024, although this varied from one country to another.
Additionally, the loan-to-deposit ratio varied significantly across the GCC countries, ranging between 125% and 66%.
Meanwhile, the capital adequacy ratios in the GCC countries continued to exceed the minimum regulatory requirements set by Basel III by a significant margin. In 2024, these ratios ranged between 32% and 17.8%. According to Basel III guidelines, the minimum regulatory capital adequacy ratio banks must maintain is 8%.
Furthermore, the net profits of the commercial banks operating in the GCC countries experienced significant growth over the past four years, surpassing pre-COVID-19 levels. — ONA
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