Consolidated assets of Arab banking sector may reach $4.4trn by year-end-official

The Secretary General of the Union of Arab Banks (UAB) Wissam Fattouh said the consolidated assets of the Arab banking sector are expected to reach $4.40 trillion by the end of 2022.

This represents a year-on-year (YoY) increase of 8.50%, state-run news agency MENA reported.

UAB's recent estimates indicate that the combined deposits may reach $2.85 trillion while loans could hit $2.80 trillion.

The total value of assets held by the four largest banking sectors; namely the Emirati, Saudi, Egyptian, and Qatari, respectively, exceeded $0.500 trillion, Fattouh said.

By the end of 2022, the assets held by each of the two largest Arab banking sectors may surpass $1 trillion.