GCC Banking Sector Report - Q4-2024
Quarterly net income for banks in the GCC region registered a sequential decline during Q4-2024 mainly reflecting the recent rate cuts implemented by global central banks as well as central banks in the GCC. Total profits reached USD 14.6 Bn during the quarter, a decline of 1.8% as compared to USD 14.9 Bn during Q3-2024, although y-o-y growth in profits remained robust at 12.8%.