MUSCAT – As per the statistics, total deposits in commercial banks reached around $2.1 trillion by the end of 2024, marking a 9.6 percent increase compared to year-end 2023.
Similarly, the total loan portfolio of GCC commercial banks rose to $2.1 trillion, reflecting a 9.9 percent year-on-year growth. Of these loans, approximately 80.7 percent were extended to the private sector.
The non-performing loans ratio has declined across most GCC countries between 2020 and 2024, although the level of improvement varied by country. Meanwhile, the loan-to-deposit ratio differed significantly across the region, ranging from 66 percent to 125 percent.
Capital adequacy ratios among GCC banks remained well above the Basel III regulatory minimum of 8 percent, ranging between 17.8 percent and 32 percent in 2024.
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In addition, the net profits of GCC commercial banks have shown consistent growth over the past four years, surpassing pre-COVID-19 levels.
