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FINANCIAL NEWS
GCC banks hit 6.5pct increase despite tough liquidity challenges
06 Jun 2017
(MENAFN) GCC banks achieved a 6.5 percent increase in assets last year, driven by increased lending to government and related entities.
However, the credit liquidity of many banks also declined, with overall impairment charges growing by almost 25 percent from 2015.
Accordingly, banks in the region have been resilient despite margin pressures, increased impairment fees and higher funding costs.
Last year, outstanding credit from banks on Oman reached USD57.2bn, reflecting an increase of more than 10 percent over a year ago.
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MENAFN0606201700450000ID1095537665
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