(MENAFN) Gross income of GCC banks surged 8.8 percent year on year to USD5.8 billion on the back of greater loan book and a fall in provisions in the April-June period, based on reports.
Banks in Kuwait secured the first place with its net profits soaring 15.1 percent, followed by UAE's banks with a 13.1 percent growth, with Qatar an Saudi banks falling into last places.
In more detail, total loans distributed by GCC banks under Global coverage grew by 10 percent to USD768.7 billion in the three months to June with Qatar leading the pack scoring 13.9 percent.
As interest earnings are concerned, it rose 5.9 percent and 1.8 per cent quarter to quarter, having the Kuwaiti banks taking the lead again with a 12.1 percent, and banks in UAE coming second with 6 percent.
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