| From Zawya.com: Fuelled by the economic boom and the rally in oil prices which resulted in the accumulation of huge reserves by the GCC countries, the banking sector had witnessed double digit growth in its loan portfolio and deposit base over the period 2004-2008; loans grew at a 5-year CAGR of 32% to reach USD 609 billion at the end of 2008, while total deposits grew at a slower pace with a 5-year CAGR of 27% to reach USD 725 billion at the end of 2008.
However, growth in loan portfolio and deposits lost momentum during the first 9 months of 2009 with a marginal increase for each of 2%...........................................Full Article: Source
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