(MENAFN) Bank credits of private sector are expected to increase 15.3 percent in Saudi Arabia over the following year, ranking first among the GCC countries, according to Arab News.
Qatar ranks second after Saudi Arabia as the largest bank credit growth at 14.7 percent compared to the current 12.9 percent, followed by Oman at 12.6 percent compared to 14.3 percent this year.
The financial institutions in the GCC countries have solid positions despite the increasing rates of non-performing loans (NPLs) in Bahrain and the UAE last year, a report by the International Monetary Fund (IMF).
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