GCC listed banks' results

In this report, KPMG professionals have analyzed the financial results of leading listed commercial banks from each GCC country — the Kingdom of Bahrain (Bahrain), the State of Kuwait (Kuwait), the Sultanate of Oman (Oman), the State of Qatar (Qatar), the Kingdom of Saudi Arabia (Saudi Arabia or KSA) and the United Arab Emirates (UAE). The financial results and selected key performance indicators (KPIs) of the 52 leading GCC banks for the year-ended 31 December 2024 are summarized and compared with the prior year (year-ended 31 December 2023).

The 2024 report, titled ‘Momentum and Transformation,’ highlights some of the key financial trends including:

GCC banks have demonstrated remarkable resilience and strength, particularly in the face of global and regional economic uncertainties. Almost all financial KPIs covered in this report witnessed a positive trend from the prior year which reflects not only the strength of GCC economies but also the results of effective leadership, investment in innovation, and adaptability amidst the evolution of the banking sector. The GCC banking sector has continued to grow, deliver impressive results, and also maintain momentum in a challenging environment. Banks have been a key facilitator behind economic growth and have also adapted to the digital agenda being pursued across the entire region.

For 2025, the key predictions for the sector in our view are:

We hope that our analysis, insights and predictions will continue to help drive banking strategies and shape the industry across the region.