Qatari banks outgrow Mideast peers in 2012 revenue

Qatari banks outperformed their Middle East peers with a 12% revenue growth last year, as the regional lenders settled at single digit revenue growth in 2012, a new study has shown.

According to the Boston Consulting Group (BCG), the banking industry in the Middle East settled at single digit revenue growth in 2012 with a 6.9% increase. The increase in profits was slightly higher at 8.1%, stemming largely from extraordinary income sources.

Based on 2012 annual results as reported by the banks in the first quarter of 2013, the new study is part of BCG’s annual banking performance indices measuring the development of banking revenues (operating income) and profits for leading Middle East banks.

The index covers the largest banks in Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the UAE. 

“The 2012 BCG index includes some 32 banks from across the GCC capturing nearly 80% of the total regional banking sector”, said Dr Reinhold Leichtfuss, senior partner & managing director at BCG’s Dubai office and leader of BCG’s Financial Institutions practice in the Middle East.

Read more:http://www.gulf-times.com/business/191/details/347279/qatari-banks-outgrow-mideast-peers-in-2012-revenue