CAIRO: Total assets of banks in the Gulf Cooperation Council have increased by 3.1 percent in the first half of 2021 compared to the figures at the end of 2020.

The commercial banks operating in the GCC countries reported a hike in their assets to $2.6 trillion, according to a report released by the GCC-Stat.

Saudi Arabia and the UAE account for about one-third of the total banking assets in the GCC, with the latter acquiring the lion’s share of 33 percent and the former amounting to 31.5 percent.

The UAE recorded total assets of $874 billion in June 2021, up 0.7 percent from December 2020, while the Kingdom’s total assets accounted for $830 billion recording a 4.5 percent increase.

Emerging as the highest growth rate for total bank assets, Qatar’s total assets increased by 5.1 percent in the second half of 2021, compared to December 2020, with total assets of $486 billion.

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