The total assets of commercial banks operating in the GCC countries reached $3.5 trillion in 2024, marking 10 per cent increase compared to the end of 2023, according to a report issued by the GCC Statistical Centre on financial and monetary stability in the GCC economy.
The report indicated that total deposits with commercial banks in the GCC stood at $2.1trn in 2024, marking an increase of 9.6pc compared with their level at the end of 2023.
The broad money supply reached $1.8trn, marking a 9.3pc increase compared with its value at the end of 2023.
The report further stated that the net foreign assets held by GCC central banks amounted to $761.9 billion, up by 6.9pc compared to 2023.
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