Abu Dhabi – Mubasher: The UAE banks have topped the GCC's peers in terms of assets last year.

Total assets of UAE's banks jumped by $14 billion (AED 51.4 billion) to $734 billion (AED 2.693 trillion) in 2017, compared to $ 720 billion (AED 2.642 trillion) in the third quarter of the same year, according to Emirates News Agency (WAM).

The Emirati banks have ranked the first in the GCC nations for the third year in a row on the back of rapid economic growth in the nation despite the global and regional economic slowdown, WAM noted.

The Saudi Arabia-based banks came second with total assets of $615 billion, followed by Kuwaiti banks with $212 billion assets, Bahrain-based lenders with $189 billion assets, and Oman’s banks with $82 billion assets.

The First Abu Dhabi Bank ranked second in comparison with other GCC-based banks at all indices with$182 billion assets last year, in addition to a market capitalisation of $30.4 billion and a net profit of about $3 billion.