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Arab banks to grow 7.5% in 2013
- Middle East: Sunday, April 14 - 2013 at 01:03
The Union of Arab Banks (UAB) has said the performance and efficiency of the Arab banking sector are excellent, as it keeps excellent capitalisation rates, with very good liquidity ratios, Gulf News has reported. "The Arab banking sector, which currently consists of about 430 banking institutions, manages assets equivalent to about 105% of GDP Arab countries," said chairman of UAB, Adnan Ahmed Yousif. The 430 Arab banks depend on $2.58trn deposit base which equals about 65% of the size of the Arab economies, he said. "The consolidated assets at the end of 2012 amounted to $2.58trn with a growth rate of about 7.5% from 2011," Yousif added.
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