Abu – Dhabi – Mubasher: Banks operating in the UAE topped the GCC peers in terms of assets during the first half of 2018, with a total of AED 2.7 trillion ($748 billion).
The UAE’s bank assets witnessed a 2% year-on-year increase, or AED 55 billion ($15 billion), in H1-18, Emirates News Agency (WAM) reported.
The increase in the GCC nation bank assets was attributed to higher deposits-to-loans ratio, overshadowing the robust solvency of the banking sector in the UAE, financial analysts said.
First Abu Dhabi Bank ranked the first among the Emirati banks with total assets of AED 692 billion ($188 billion).
On the other hand, Saudi Arabia’s banking sector came on the second place in the GCC with total assets of $617 billion, followed by Kuwait, Bahrain, and Oman with overall assets of $215 billion, $188 billion and $87 billion, respectively.
Assets of the Saudi National Commercial Bank (NCB) reached $121 billion, while assets of National Bank of Kuwait (NBK), Ahli United Bank, and Bank Muscat recorded $90 billion, $34 billion and $30 billion, respectively.
