The GCC banking sector continued to grow rapidly in the first half of 2012, according to QNB Group analysis. The collective assets of the largest 50 banks in the region increased by 7.7 percent in the year to June 30, reaching $ 1.28 trillion. Profits were also up by 5.4 percent, compared to the first half of 2011, reaching $ 12 billion.
15 of the top 50 banks are Islamic and represent 19.5 percent of total assets. Islamic banks saw their profits surge by 18.5 percent, on the back of growing customer demand for Shariah finance across the region. Four of the top five banks in terms of profit growth were Islamic…………………………………………Full Article: Source