Kuwait - Mubasher: The net profits of the GCC banks increased 0.6% year-on-year to $5.8 billion in the second quarter of 2016, according to a recent report by Global Investment House.
Qatari banks registered the highest rise in earnings with 3.5%, followed by Kuwait with 2.1%, and the KSA at 1.8%, while the UAE banks recorded a 3.3% decline.
The collective loans disbursed by GCC banks grew 9.8% to $845 billion in Q2-16, the report added.
Net interest margin for Q2-16 expanded 12bps after eight consecutive quarters of compression, the report highlighted.
The GCC banks’ net interest income grew by 11.9%, while non-interest income rose 2.1%, as the fee income increased 9%, while total assets expanded 8.4% to $1.3 trillion.
