GCC listed banks' results
Momentum and Transformation
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:
- Robust asset growth
- Significant profitability increase
- Consistent net interest margin (NIM)
- Lower non-performing loan ratio
- Reduced loan impairment
- Low cost-to-income ratio
- Strong capital adequacy
- Stability in bank share prices
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:
- Effective NPL management
- Faster balance sheet growth
- Healthy NIMs
- Cost control to be maintained
- Rise in prominence of ESG
- Greater focus on AI
- Further consolidation
- Regtechon the rise
We hope that our analysis, insights and predictions will continue to help drive banking strategies and shape the industry across the region.
GCC listed banks' results
Report analyzing the published results of top 52 listed commercial banks across 6 GCC countries for the year-ended 31 December 2024
Download PDF (1.96 MB) ⤓
Use the dashboard below in full screen to optimally view the performance of the banks in GCC across five pages.
