By Avinash Saxena
GCC banks have reported record high loan books on the back of robust lending activity during the third quarter this year, reveals a new report.
Analysing financials reported by 60 listed banks in the GCC for the quarter ended Q3-2021, Kuwait-based Kamco Invest said aggregate gross loans by listed GCC banks reached $1.71 trillion at the end of Q3, up 1.7pc quarter-on-quarter (QoQ) and 6.8pc year-on-year (YoY), once again led by a broad-based growth seen in all the markets.
The growth was supported by continued robust economic growth as vaccinations picked up and restrictions were lowered.
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