Assets of Arab banks at $2.6 tln
Feb 23, 2010 at 08:26
BEIRUT - The combined assets of Arab banks stood at about $2.6 trillion at the end of September 2009 and 70% of these assets were in the countries of the Gulf Cooperation Council, pan-Arab daily Asharq Al Awsat reports Tuesday citing a top official at the Union of Arab Banks, or UAB.
The banks' combined profit is expected to amount to $35 billion in 2009 and last year's fourth quarter results show a growth in assets, deposits, and bank transfers, Adnan Yousif, UAB's chairman said according to the paper.
Most of Arab banks have made substantial allocations for provisions which led to lower profits for 2009 compared with 2008, he added.
Feb 23, 2010 at 08:26
BEIRUT - The combined assets of Arab banks stood at about $2.6 trillion at the end of September 2009 and 70% of these assets were in the countries of the Gulf Cooperation Council, pan-Arab daily Asharq Al Awsat reports Tuesday citing a top official at the Union of Arab Banks, or UAB.
The banks' combined profit is expected to amount to $35 billion in 2009 and last year's fourth quarter results show a growth in assets, deposits, and bank transfers, Adnan Yousif, UAB's chairman said according to the paper.
Most of Arab banks have made substantial allocations for provisions which led to lower profits for 2009 compared with 2008, he added.