Arab banks' assets to hit $3 trillion this year

  • Share via facebook
  • Tweet this
  • Bookmark and Share

The total assets held by banks in the Arab world will hit US$3 trillion this year, up 13 percent from US$2.6bn in 2012, according to the Union of Arab Banks (UAB).

Wissam Fattouh, secretary general of UAB, told the state-run Bahrain News Agency on the sidelines of a conference that the deposit base of Arab banks currently stood at US$1.5 trillion, with loan portfolios rising to US$1.4 trillion.

Fattouh added that the Arab banking sector was still not safe from the ongoing euro zone crisis, particularly recent troubles seen in Cyprus's financial sector.

"Financial crises are imported into the Arab region which does not export them. Thanks to their good risk-management, the Arab banks are in very good positions despite the regional and global fluctuations," Fattouh said.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Breakdown in talks between Athens and its creditors plunged the...

Malaysia fund's $4.5bn rescue may weigh on Abu Dhabi's IPIC

Malaysia fund's $4.5bn rescue may weigh on Abu Dhabi's IPIC

International Petroleum Investment Co came to the aid of Malaysia...

Debt market beckons as Saudi bourse opens to foreigners

Debt market beckons as Saudi bourse opens to foreigners

Corporate bond issuance in the kingdom is the most active in...

Most Discussed